PNB Q3 net up 86 pc at Rs 1,006 cr

State-run Punjab National Bank on Friday reported 85.76 per cent growth in net profit at Rs 1,005.82 crore for the third quarter ended on December 31, 2008.

State-run Punjab National Bank on Friday reported 85.76 per cent growth in net profit at Rs 1,005.82 crore for the third quarter ended on December 31, 2008.

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The country's second largest public sector lender had a net profit of Rs 541.45 crore in the December quarter of FY '08, PNB said in a statement.

Total income rose 51.47 per cent to Rs 6,239.91 crore during the third quarter of current quarter, from Rs 4,119.57 crore in the same period last fiscal.

The bank's net interest margin stood at 3.85 per cent at the end of December 2008.

During the nine-month ended on December 31, 2008, PNB reported 48 per cent growth in net profit at Rs 2,225.31 crore. Total income in the nine-month period stood at Rs 16,147.71 crore, up 36.32 per cent over the last fiscal.

Shares of PNB were trading at Rs 400.30, up 2.58 per cent on the BSE.