Mumbai– State-run Punjab National Bank (PNB) on Tuesday reported a net loss of Rs 940.01 crore for the first quarter of 2018-19.

According to the lender, its Q1 net loss stood at Rs 940.01 crore from a net profit of Rs 343.40 crore reported for the corresponding period of the previous financial year.

The bank earned a total interest of Rs 13,113.17 crore, up 7.44 per cent from Rs 12,136.36 crore earned during Q1 of 2017-18.

“Gross NPA (non-performing assets) ratio of the bank declined to 18.26 per cent from 18.38 per cent of March’18 level. Bank was able to reduce the net NPA ratio at 10.58 per cent in June 2018, below March 2018 level of 11.24 per cent,” the bank said in a statement.

“The provision coverage increased by 338 bps to 61.80 per cent from 58.42 per cent in March 2018.” (IANS)