State-run lender Punjab National Bank today reported a whopping 62 per cent decline in its standalone net profit to Rs 306.56 crore in the fourth quarter ended March 31. The company had posted a net profit of Rs 806.35 crore in the same period a year ago.
The consolidated net profit of PNB at the end of the year declined by 6 per cent to Rs 3,399.6 crore compared with Rs 3,617.07 crore in 2013-14. The consolidated total income of the bank increased by 10.5 per cent to Rs 54,884.42 crore from Rs 49,668.43 it posted a year ago. The shares of the PNB were trading at Rs 145.20 apiece, down 7.01 per cent in the afternoon session at the BSE.