Shares of the Punjab National Bank fell by more than 7% on Friday after the company reported a staggering loss of Rs 4,532.35 crore for the second quarter ended September 2018, due to higher bad debts. The script dropped 7% to close at 69.05 rupees against BSE. In one day, he plunged 8.35% to 68.05 rupees. In NSE, the company's shares fell by 7.20% to end at 68.95 rupees. The market value of the company also decreased from 1,598.02 crores to $ 21,222.98 crores on BSE.
In terms of volume of shares, 91.75 lakh shares of the company were traded on the BSE and more than 9 crores of shares changed hands at NSE during the day. The public bank achieved a net profit of Rs 561 billion in the quarter from July to September 2017-2018. His total income during the quarter of September 2018-2019 fell to 14,035.88 crores of rupees, compared to 14,205.31 crores of Rs the previous year, announced PNB in a document on BSE .
The share of gross advances of the bank in gross advances increased sharply to reach 17.16% (81,250.83 UK Crores) at the end of September 2018, against 13.31% (57,630.11 RU crore). ) a year ago.