PNB reported a 44 per cent decline in net profit at Rs 629 crore in the third quarter of December.
The bank earned a net profit of 1,127 crore in the year-ago period.
The total income went to Rs 25,722 crore in October-December 2022, compared to Rs 22,026 crore in the year-ago period, PNB said in a regulatory filing.
On the asset quality front, the bank recorded an improvement with gross NPAs Non-Performing Assets falling to 9.76 per cent as compared to 12.88 per cent at the end of the third quarter of previous fiscal year.
The net NPAs fell to 3.30 per cent as opposed to 4.90 per cent in the same period a year ago.
The provisions for bad loans increased to Rs 3,908 crore in the quarter, compared to Rs 3,654 crore a year ago.
The capital adequacy ratio rose to 15.15 per cent in December, compared to 14.91 per cent.