PNB share price tumbles 13.6 per cent on disappointing Q4 numbers

Share price of state-run lender Punjab National Bank (PNB) slumped 13.6 per cent on Thursday after the company reported 66 per cent drop in its fourth-quarter profit.

Trading in PNB shares started sharply lower at Rs 31.70 against its previous day's close at Rs 33.10 at the BSE.

PNB share was trading 13.44 per cent down at Rs 28.65 at 3.19 pm. Earlier, the scrip tumbled to a low of Rs 28.50 in the intra-day.

The bank's share slumped after it announced disappointing financial numbers for the fourth quarter of 2021-22.

PNB on Wednesday reported a standalone net profit of Rs 202 crore for January-March 2022 quarter against Rs 586 crore recorded in the corresponding quarter of the previous year, posting a decline of 66 per cent.