Punjab National Bank's first-quarter net profit falls 70% to Rs 308 crore.
Thursday reported a 70% drop in standalone net profit to Rs 308.44 crore in the June quarter, owing primarily to increased provisioning for bad loans and a decline in interest income.
In the previous fiscal year, the bank earned a net profit of Rs 1,023.46 crore.
In the first quarter of the current fiscal year, total income fell to Rs 21,294 crore. According to a regulatory filing, it was Rs 22,515 crore in the previous year.
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