your password has been reset successfully, Please login again.

PNB Witnesses 3 Per Cent Boost Post-Q3 Revenue

PNB’s stock surges after publicizing Q3 December result.
BY BEx Bureau
BusinessEx
Feb 05, 2019

On Tuesday, the stock of PNB ( Punjab National Bank) has leapt upward 3 per cent following the bank released Q3 report. According to the released Q3 report, the bank has gained 7.12 per cent net profit amounting to INR 246.51 crore YOY. Whilst last year, the net profit of the bank was INR 230.11 crore in the same quarter.

At the moment, the banks scrip was around INR 75.10 with a spike 2.67 per cent whereas BSE Sensex was upward by 0.14 per cent, amounting for INR 36, 632.97. In last September, the bank has reported a loss of INR 4532.35 crore while Kotak Institutional Equities reported a net loss of INR 1,396.70 in the same quarter.

The provisions and contingencies of Kotak have decremented drastically from 38.35 per cent year-on-year basis and 71.78 per cent quarter-on-quarter basis to INR 2,753.84 crore. On the other hand, the operating profit of the bank has decreased from 26.97 per cent year-on-year basis to INR 3099.86 crore in quarter 3 FY19.

Please add your Comment
SIMILAR News
April 22, 2019
International Finance Corporation, an investment arm of World Bank, decides to endow $75 million as ...More
By Jaspreet Kaur
April 22, 2019
Steller Value Chain, a Mumbai-based logistics company, will buy Patel Integrated, a Surface transpor ...More
By Jaspreet Kaur
April 18, 2019
The acquisition will incorporate an advanced cash consideration of INR 32 crore (ZAR 65 million) ...More
By Jaspreet Kaur
April 18, 2019
The online footwear company said that it will be using the garnered capital to hire experienced prof ...More
By Jaspreet Kaur
April 17, 2019
APL Apollo, an Indian steel manufacturer, has confirmed reports of acquiring a manufacturing unit of ...More
By Jaspreet Kaur
April 17, 2019
TA Associates, an American private equity firm has obtained a small portion of shares in the Indian ...More
By Jaspreet Kaur
April 16, 2019
The California-based Wibmo will operate as a wholly owned subsidiary of PayU ...More
By Jaspreet Kaur
April 16, 2019
CureFit is actively acquiring companies to expand its business for almost a year now ...More
By Jaspreet Kaur
April 12, 2019
The microcredit company, Sindhuja Microcredit, is the new generation financing firm which caters fin ...More
By Jaspreet Kaur
April 12, 2019
By initiating the wellness company, Deish and Mohammed aim to become a one-step solution of women hy ...More
By Jaspreet Kaur
April 11, 2019
International Finance Corporation (IFC), a sister company of World Bank, has decided to endow money ...More
By Jaspreet Kaur
April 11, 2019
The Indian IT giant, Tech Mahindra will acquire 18.1 per cent stakes in Vitaran Electronics and Info ...More
By Jaspreet Kaur