PNB Gilts Q1 FY27 Results: Net Profit Surges Over 500% Sequentially to ₹8,069.80 Lakhs, Driven by Strong Operating Performance

PNB Gilts Limited (NSE: PNBGILTS; BSE: 532308), a subsidiary of Punjab National Bank and a leading Primary Dealer in the Indian debt market, today announced its reviewed financial results for the first quarter of the fiscal year 2027 ended June 30, 2026. The company delivered an exceptional sequential turnaround, registering a massive multifold growth in its net profit compared to the final quarter of the preceding financial year.

Massive Sequential Profit Turnaround

PNB Gilts clocked a net profit of ₹8,069.80 lakhs for Q1 FY27. This represents an explosive 521% growth sequentially over the net profit of ₹1,299.17 lakhs recorded in Q4 FY26.However, on a year-on-year (YoY) basis, the net profit dropped by 49.6% against the high-base quarter of Q1 FY26, which sat at ₹16,007.07 lakhs. The company's total comprehensive income for the quarter stood at ₹8,068.65 lakhs, factoring in a minor adjustment of minus ₹1.15 lakhs in other comprehensive income due to the remeasurement of defined benefit plans.

Core Income Engines and Trading Revenues

The financial services provider recorded a balanced revenue architecture across its interest and trading portfolios:

Total Revenue from Operations: Stood at ₹45,455.99 lakhs, up 7.2% sequentially from ₹42,410.97 lakhs in the previous quarter. It was lower than the ₹56,326.51 lakhs achieved in the year-ago period, primarily due to higher trading gains realized during that phase.

Interest Income Growth: Reached ₹43,345.06 lakhs, demonstrating steady growth of 2.8% sequentially (from ₹42,166.59 lakhs) and 7.3% year-on-year (from ₹40,385.25 lakhs). This reflects steady compounding across its sovereign debt asset holdings.

Net Gain on Securities: The trading desk generated ₹1,823.20 lakhs in net gains (realized and unrealised) on securities, reversing a heavy net trading loss of ₹7,252.77 lakhs experienced in Q4 FY26.

Fees and Commission Income: Contributed ₹285.99 lakhs, up from ₹242.81 lakhs sequentially.Total income for the quarter, including other nominal income streams, rolled in at ₹45,471.60 lakhs.

Expense Matrix and Effective Cost Control

The firm achieved a major reduction in overall costs, which directly fueled the bottom-line expansion:

Total Expenses: Dropped sharply by 15.5% sequentially to ₹34,653.04 lakhs from ₹41,021.65 lakhs in Q4 FY26.

Finance Costs: Stood at ₹33,076.20 lakhs, which formed the bulk of expenses, rising marginally from ₹31,579.41 lakhs in the preceding quarter.

Employee Benefit Expenses: Fell sharply to ₹349.85 lakhs, compared to ₹733.72 lakhs in Q4 FY26 and ₹1,146.28 lakhs in Q1 FY26.

Other Expenses & Depreciation: Other administrative expenses stood lower at ₹403.79 lakhs (down from ₹769.93 lakhs in the prior quarter), while depreciation and amortization accounted for ₹101.19 lakhs.

Profit Before Tax, Exceptional Relief, and Tax Structure

PNB Gilts achieved a Profit Before Tax (PBT) of ₹10,826.24 lakhs for Q1 FY27, up significantly from ₹1,416.22 lakhs in the preceding quarter. The PBT figures were aided by a favorable exceptional item inflow of ₹7.68 lakhs (reversing an exceptional cost of ₹23.55 lakhs in Q4 FY26).

The company's tax expense for the quarter aggregated to ₹2,756.44 lakhs, which comprised a current tax charge of ₹3,895.58 lakhs balanced out by a deferred tax credit of ₹1,139.19 lakhs.

Earnings Per Share (EPS) Evolution

Driven by the powerful quarter-on-quarter recovery, the basic and diluted earnings per share (non-annualized, face value of ₹10 each) jumped to ₹4.48 per share for the three months ended June 30, 2026. This marks a stark contrast to the basic EPS of ₹0.72 per share recorded in Q4 FY26, highlighting the firm's revitalized operational earnings capacity.

Shares of PNB Gilts Limited was last trading in BSE at Rs. 88.33 as compared to the previous close of Rs. 91.31. The total number of shares traded during the day was 81162 in over 697 trades.

The stock hit an intraday high of Rs. 88.75 and intraday low of 86.46. The net turnover during the day was Rs. 7121890.00.

Source : Equity Bulls

Keywords

PNBGilts INE859A01011 Q1FY27 Q1FY2027 ResultUpdate