Punjab National Bank's Q1 profit slips 48% to Rs 1,675 crore

Punjab National Bank (PNB) on Wednesday reported a 48 per cent decline in standalone net profit at Rs 1,675 crore for the quarter ended June 30, 2025 on higher tax expenses. The state-owned bank had posted a net profit of Rs 3,252 crore in the year-ago period. Total income in the quarter under review rose to Rs 37,232 crore, from Rs 32,166 crore, PNB said in a regulatory filing. The lender's interest income also increased to Rs 31,964 crore, from Rs 28,556 crore in the same quarter a year ago. During the period, operating profit of the bank rose to Rs 7,081 crore, as compared to Rs 6,581 crore in the same quarter a year ago. However, tax expenses during the quarter more than doubled to Rs 5,083 crore, as against Rs 2,017 crore in the same period a year ago. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 3.78 per cent of gross advances at the end of the June quarter, from 4.98 per cent a year ago. Similarly, net NPAs, or bad loans, declined to 0.38 per cent, as against 0.6 per cent in the year-ago period. Provisions and contingencies fell significantly to Rs 323 crore during the first quarter, as compared to Rs 1,312 crore in the same period a year ago.