Punjab National Bank's third quarter profit is expected to surge 23.2 percent year-on-year to Rs 930 crore, according to the average of estimates of analysts polled by CNBC-TV18.
Punjab National Bank 's third quarter profit is expected to surge 23.2 percent year-on-year to Rs 930 crore, according to the average of estimates of analysts polled by CNBC-TV18.
The base in the year-ago period was low as in Q3FY14 profit fell 42 percent Y-o-Y to Rs 755 crore on account of a 98 percent jump in provisions. Hence, the profit growth may depend on provisions.
Net interest income, the difference between interest earned and interest expended, may increase 4.1 percent to Rs 4,396 crore in the quarter ended December 2014 from Rs 4,221 crore in same quarter last year.
Analysts expect volatility in asset quality to continue. Slippages have been volatile and elevated for the past 7-8 quarters. Analysts worried about slippages from restructured book.
Restructured assets for PNB stood at Rs 36,800 crore at the end of September quarter. Upgrades and recoveries will also be watched.
Loan growth is estimated at 10-15 percent for the quarter.
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