Mumbai, July 27: Punjab National Bank, the second largest public sector lender of India, reported 12.7% on-year growth in its net profit for April-June quarter of fiscal 2012-13 at Rs 12.46 billion as against Rs 11.05 billion in corresponding quarter last year.
PNB's total income for the Q1 rose 25% to Rs 117 billion, compared to Rs 94 billion in the same period last year.
The bank's Net interest income (NII) in Q1 increased 18.61% to Rs 37 billion against Rs 31.15 billion in the corresponding quarter of fiscal 2011-12.
However, gross non performing assets (NPA) of PNB went up to 3.34% in the reporting quarter from 2% in the year-ago quarter.
The bank's net interest margin stood at 3.6% at the end of Q1.
The bank's provisions for bad loans and contingencies rose 15.55% to Rs 10.32 billion for Q1 against Rs 8.93 billion in the same period a year ago.
PNB'b outstanding advances at the end of June 30 were at Rs 2.94 trillion, up 21.22%, from Rs 2.43 trillion a year ago, while its total deposits stood at Rs 3.85 trillion, up 18.9%, as compared to Rs 3.24 trillion a year ago.
The bank's shares Friday closed at Rs 715.85, down 5.34%, on the Bombay Stock Exchange (BSE).