PNB Results: The very next day after the quarterly results of the country’s first indigenous bank PNB, there was a huge sell-off in its shares and the prices slipped to a record low of 52 weeks. In the fourth quarter January-March 2022 of the last financial year 2021-22, the bank’s standalone net profit fell by 66 percent. The fourth quarter results were announced on Wednesday (May 11) and today (May 12), it slipped more than 11 percent to a price of Rs 29.05 on the BSE, which is a 52-week low. The bank has also announced dividend. In the fourth quarter, the consolidated net profit of the bank fell to Rs 202 crore from Rs 586 crore on a year-on-year basis.
Prices have broken 23 percent this year
After the announcement of the fourth quarter results, the prices of PNB have broken 11 per cent today, but if we talk about this year 2022, till now it has weakened 23 per cent. On October 26 last year, its shares were at a price of Rs 47.60, that is, it is currently at a discount of about 29 percent from the record price of 52 weeks.
Dividend recommendation to shareholders
The bank has informed the stock exchanges that the board of directors has recommended a dividend of Rs 0.64 per equity share. The approval of the shareholders will have to be taken in the Annual General Meeting (AGM) of the bank on this proposal. The bank had a standalone net profit of Rs 202 crore, down 66 per cent year-on-year in the fourth quarter. However, if we talk about the full financial year, the profit of the bank increased by 71 percent to Rs 3457 crore in 2021-22 from Rs 2022 crore on an annual basis. In the fourth quarter, the income of the bank decreased from Rs 21386 crore to Rs 21095 crore and in the whole financial year, the income decreased from Rs 93 thousand crore to Rs 87 thousand crore.