PNB Q3 net up @ Rs 314 cr

Punjab National Bank on Friday reported a 21 per cent increase in net profit at Rs 314.27 crore (Rs 3.14 billion) for the quarter ended December 31, 2004 compared to Rs 259.8 crore (Rs 2.59 billion) during the corresponding period last fiscal.

The total income increased marginally to Rs 2380.08 crore (Rs 23.8 billion) for the review quarter against Rs 2362.33 crore (Rs 23.62 crore) in the year-ago period, PNB informed the Bombay Stock Exchange.

The bank also announced payment of interim dividend of 30 per cent or Rs 3 per share for the financial year 2004-05.

The record date for determining the entitlement of shareholders, beneficiaries to receive the interim dividend has been fixed as February 28.