PNB Share Price In Focus: PSU Bank Records 145% YoY Growth In Q2 PAT To Rs 4,303 Crore; Key Highlights Here

Punjab National Bank (PNB) share price will be in focus on Tuesday, October 29, 2024, after the lender reported a massive 145% year-on-year growth in net profit of Q2FY25 to Rs 4,303 Crore compared to Rs 1,756 Crore in Q2 FY24. Net interest income (NII), however, posted single-digit growth of 5.99% YoY to Rs 10,517 Crore in Q2 FY25, as against Rs 9,923 Crore in Q2 FY24.

Meanwhile, in the quarter under review, net interest margins stood at 2.99% in HY1FY'25 and 2.92% in Q2 FY'25. Further, operating profit surged by 10.25% YoY % to Rs 6,853 Crore in Q2 FY'25 as against Rs 6,216 Crore
in Q2 FY'24.

In terms of the balance sheet, the bank registered 11.33% YoY growth in global deposits to Rs 14,58,342 Crore by the end of the September 2024 quarter, as against Rs 13,09,910 Crore as of September 2023.

Notably, global advances increased by 12.76% on a Y-o-Y basis to Rs 10,61,904 Crore as of September'24 from Rs 9,41,721 Crore as of September'23. Also, Global Business grew by 11.93% on a Y-o-Y basis to Rs 25,20,246 Crore as of September 2024 from Rs 22,51,631 Crore as of September 2023.

Additionally, the CD Ratio improved to 72.82% as of September'24 as against 71.89% in September'23.

Coming to asset quality, the GNPA ratio improved by 248 bps to 4.48% in Q2FY25, compared to 6.96% in Q2FY24. While NNPA ratio improved by 101 bps on a Y-o-Y basis to 0.46% as of the September 2024 quarter versus 1.47% as of the September 2023 period.

Moreover, the provision coverage ratio (excluding two( improved by 1018 bps on a Y-o-Y basis to 90.18% as of September'24 from 80.00% as of September'23. Also, Credit Cost improved by 123 bps on a Y-o-Y basis to 0.08% in Q2 FY'25 from 1.31% in Q2 FY'24.

In the first half of FY25 (April - September 2024), the PSU Bank's net profit stood at Rs 7,555 Crore recording growth of 150.8% on a YoY basis. While Net Interest Income for HY1FY'25 was at Rs 20,993 Crore recording growth of 8.1% on a YoY basis.

As of 30th September 2024, the Bank has 10,159 domestic branches and 2 International Branches. Out of the total no. of branches, the Bank has 63.31% branches in Rural & Semi-Urban areas.

The PSU bank stock will be in focus on October 29 after Q2 results. After market hours of October 28, the PSU stock ended at Rs 98.65 apiece, up by 2.97% on BSE, with a market valuation of Rs 1,13,377.89 crore.