Bloodbath continues – Sensex, Midcap sink 3%; PNB falls Q4 post Q3 nos

Punjab National Bank’s Q3 earnings missed analyst expectations, but asset quality improved over previous quarter.

Net profit at Rs 230.1 crore and net interest income at Rs 3,989 crore were below CNBC-TV18 poll of Rs 558.1 crore and Rs 4,122.9 crore, respectively.

Gross non-performing assets were lower at 12.11 percent compared to 13.31 percent in previous quarter. Net NPAs als improved to 7.55 percent from 8.44 percent on sequential basis.

The stock fell nearly 4 percent.

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