PNB's quarterly profit falls 70% to Rs 308 crore

New Delhi: State-owned Punjab National Bank (PNB) on Thursday reported a 70 per cent decline in standalone net profit to Rs 308.44 crore in the three months ended June.

The bank had posted a net profit of Rs 1,023.46 crore in the year-ago period. In the March quarter, the same stood at Rs 201.57 crore.

Total income in the first quarter of the current fiscal fell to Rs 21,294 crore. In the year-ago period, it was at Rs 22,515 crore, according to a regulatory filing.

The lender's interest income fell to Rs 18,757 crore from Rs 18,921 crore in the same quarter a year ago.