NEW DELHI: Punjab National Bank plunged as much as 3.7 per cent in trade on Tuesday, after the public sector bank reported a net profit of Rs 575 crore for the quarter ended September 30, which was below analysts' estimates by a wide margin.
Analysts' polled by ET Now had estimated a net profit of Rs 1,203 crore and a net interest income (NIIs) of Rs 4,450 crore for the second quarter of the current financial year.
The public sector bank reported a net profit of Rs 505.50 crore in the year-ago period.
At 12:40 p.m.; PNB was trading 3.4 per cent lower at Rs 923.15. It hit a low of Rs 918.70 and a high of Rs 975.35 in trade today.
Net interest income or the difference between interest earned and interest paid rose 3.3 per cent YoY to Rs 4151 crore, as compared to Rs 4015.50 crore reported in the corresponding quarter of last fiscal.
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