New Delhi, India – January 28, 2025: PNB Gilts Limited (NSE: PNBGILTS, BSE: 532366), a subsidiary of Punjab National Bank, has announced its unaudited financial results for Q3 FY2024-25, reporting ₹36,236.01 crore in revenue and a net loss of ₹(996.22) lakh. The company also appointed M/s. AKP & Associates as the Secretarial Auditor for FY2024-25.
Key Financial Highlights – Q3 FY2024-25 (Standalone)
- Revenue from Operations: ₹36,236.01 crore (YoY decrease from ₹38,309.11 crore)
- Total Income: ₹36,244.04 crore
- Profit Before Tax (PBT): ₹(1,165.14) lakh
- Net Profit (PAT): ₹(996.22) lakh (compared to ₹11,468.44 lakh profit in Q2 FY25)
- Earnings Per Share (EPS): ₹(0.56) per share.
Nine-Month Performance (April – December 2024) (Standalone)
- Total Revenue: ₹125,743.55 crore (YoY increase from ₹110,792.39 crore)
- Profit Before Tax (PBT): ₹21,176.84 crore
- Net Profit (PAT): ₹15,801.11 crore
- EPS: ₹8.78 per share.
Key Business Highlights
- Revenue Decline Due to Market Volatility:
- Net gain on securities (realized & unrealized) fell from ₹11,084.35 crore in Q2 to ₹4,618.42 crore in Q3 FY25.
- Higher bond yields and reduced trading margins impacted financials.
- Exceptional Items Impacting Profitability:
- Write-back of ₹128.84 lahks related to SREI Equipment Finance, Madhavpura Mercantile Co-op Bank, and DHFL recoveries.
- In the previous quarter, exceptional gains at ₹73.97 lakh helped offset losses.
- New Secretarial Auditor Appointment:
- M/s. AKP & Associates appointed as Secretarial Auditor for FY2024-25.
- The firm specializes in corporate compliance, FEMA, and legal advisory.
Management Commentary
Monika Kochar, Company Secretary & Chief Compliance Officer of PNB Gilts, stated:"The company faced market challenges due to interest rate fluctuations, impacting our securities portfolio. However, we remain committed to navigating these conditions with a long-term strategy.".
Market Outlook & Investor Takeaways
- Interest rate volatility remains a key challenge for securities trading profitability.
- Stable net interest income expected to support financial recovery in upcoming quarters.
- Institutional investors monitoring bond market movements and RBI policies.