Stellar Quarterly Results (Q1FY24): This multibagger PSU company reports a 376 per cent jump in net profit; do you own it?
Watch out for the top 6 mutual funds that are likely to be in focus post-results!
Punjab National Bank is India's first Swadeshi Bank, owned by the Central Government (through the President of India). It announced its Quarterly Results (Q1FY24) ended June 30, 2023. Details below:
Quarterly Results: The interest earned (net sales) increased by 34.11 per cent to Rs 25.682.75 crore, the profit before tax (PBT) increased by 252.13 per cent to Rs 1,979.19 crore and the net profit skyrocketed 376.36 per cent to Rs 1,342.05 crore in Q1FY24 compared to Q1FY23. The EPS for Q1FY24 stood at Rs 1.22.
Additionally, the global business increased by 14.34 per cent to Rs 22.15 lakh crore, the global deposits increased by 14.18 per cent to Rs 12.98 lakh crore and global advances increased by 14.58 per cent to Rs 9.17 lakh crore.
Annual Results: The net sales increased by 14 per cent to Rs 86,845.29 crore and the net profit decreased by 13.27 per cent to Rs 3,348.45 crore in FY23 over FY22. The EPS for FY23 stood at Rs 3.05.
On Thursday, shares of PNB surged 1.02 per cent to an intraday high of Rs 63.25 per share from its previous closing of Rs 63.21. The stock is up by 70 per cent in 1 year and over 90 per cent in 3 years. Additionally, the stock gave multibagger returns of 104 per cent from its 52-week low of Rs 31.30 per share.
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Top 6 mutual funds that are likely to be in focus post-results:
|
Mutual Funds
|
Market Value (Rs)
|
% of AUM
|
AUM (Rs. Cr)
|
|
Quant Mid Cap Fund(G)
|
123.81
|
5.66
|
2188.28
|
|
Aditya Birla SL PSU Equity Fund-Reg(G)
|
50.17
|
4.43
|
1133.45
|
|
Quant Value Fund-Reg(G)
|
27.97
|
3.97
|
704.84
|
|
Taurus Banking & Fin Serv Fund-Reg(G)
|
0.34
|
3.51
|
9.56
|
|
SBI PSU Fund-Reg(G)
|
18.72
|
3.33
|
562.03
|
|
Quant Flexi Cap Fund(G)
|
38.35
|
2.38
|
1611.61
|
Investors should keep an eye on this PSU Large-Cap stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.