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PNB profit slumps 48% on higher tax expenses
July 31, 2025
|Financial Express Lucknow
PUNJAB NATIONAL BANK'S net profit declined 48.5% year-on-year to ₹1,675 crore for the quarter ended June on the back of higher tax expenses and muted net interest income growth.
The state-owned bank had posted a net profit of ₹3,252 crore in the year-ago period.
Tax expenses surged over 150% y-o-y to ₹5,083 crore in April-June. The bank said it has evaluated the option of lower tax regime and has decided to exercise the said option with effect from FY25-26. "The resultant impact is a one-time charge of ₹3,324.24 crore in the profit and loss account for the quarter ended June 30," PNB said.
هذه القصة من طبعة July 31, 2025 من Financial Express Lucknow.
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