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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.

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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. PTI DP RAM RAM

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