PNB shares gain 2.5% as Q2 net profit rises

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Punjab National Bank’s scrip on Friday gained 2.5 per cent after the company reported a 8 per cent rise in standalone net profit for the second quarter ended September 30.

Shares of the company settled 2.47 per cent higher at Rs. 132.80 on BSE. Intra-day, it gained 4.32 per cent to Rs. 135.20. At NSE, the stock closed at Rs. 132.90, up 2.54 per cent from its previous close.

In terms of volume, 15.68 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day. Punjab National Bank today reported 8 per cent rise in standalone net profit to Rs. 621.03 crore for the second quarter ended September 30.

The bank had posted a net profit of Rs. 575.34 crore in the same quarter of the previous financial year. PNB’s total income has increased from Rs. 13,020.46 crore in July-September quarter of 2014-15 to Rs. 13,701.93 crore for the same quarter of the current fiscal.

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