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PNB's Q1 profit plummets 49% YoY to ₹1,675cr
Punjab National Bank (PNB) just posted a 49% drop in net profit for Q1FY26, landing at ₹1,675 crore compared to last year's ₹3,251 crore.
The main culprit? A huge spike in tax expenses, which more than doubled this quarter.
Total income jumps by 15.7%
Even with profits down, PNB's core business is still growing—total income jumped 15.7% to ₹37,231 crore and lending profits nudged up by 1%.
Operating profit also rose to ₹7,081 crore.
But thanks to those soaring taxes, the bank's bottom line took a serious hit—a reminder that even when business looks good on the surface, taxes can really shake things up for banks like PNB.