PNB Stocks Surge with Impressive Profit Growth

Punjab National Bank reported a dramatic increase in profits for the September quarter, resulting in over 3% growth in their stock prices. The quarterly profit soared to Rs 4,306 crore, with improvements in total income and asset quality, highlighting a robust financial performance.

On Monday, Punjab National Bank (PNB) experienced a notable uptick in its stock prices, with shares climbing over 3% following the release of an impressive profit report for the September quarter.

The bank's profit more than doubled, reaching Rs 4,306 crore, compared to Rs 1,756 crore in the same period last year. This resulted in PNB shares advancing nearly 3% on the BSE, closing at Rs 98.65, and reaching up to Rs 101.95 during the day's trading.

PNB also announced an increase in total income and improved asset quality, with gross NPAs declining significantly, underscoring the bank's strong financial position in the current fiscal year.

(With inputs from agencies.)