PNB Q3 Profit Surges to ₹5,100 Crore, Exceeding Expectations

• Punjab National Bank (PNB) reported a net profit of ₹5,100 crore in Q3, surpassing analyst estimates of ₹4,873 crore.
• Net profit increased year-on-year from ₹4,508 crore to ₹5,100 crore, despite a decline in Net Interest Income (NII).
• The bank's asset quality improved significantly, with Gross NPA decreasing from 3.45% to 3.19% and Net NPA from 0.36% to 0.32%.
• Provisioning increased quarter-on-quarter from ₹643 crore to ₹1,151 crore, reflecting a cautious strategy.
• Experts suggest PNB is on a steady path of improvement in both profit and asset quality, supported by better cost control and NPA reduction.

Why It Matters: PNB's Q3 profit exceeded expectations at ₹5,100 crore, driven by improved asset quality and cost control.