Punjab National Bank, the nation's second-biggest public sector financial arm, on Thursday recorded a 28.4 per cent hike in its net profit to Rs 1,068 crore for the quarter ending June 2010, contrasted with Rs 832 crore in the subsequent period last year.

The growth was geared up by a hike in interest income, whilst the bank handled to put the expenditures under control.

In a chronological order, however, PNB's net profit depressed by 5.88 per cent from Rs 1,135.03 crore during the quarter-ending of March. By the past quarter, the bank had witnessed a rejection in interest expenditures and directed to put aside operating expenditure under control. 

Also, during the recent quarter the costs stayed under control, with expenditures plunging up by 3.4 per cent.

The bank attracted goodies from a marginal turn down in the interest paid on the deposits, which was approximated at Rs 3,092 crore in the initial quarter of this year, contrasted to Rs 3,123 crore during the April-June 2009 session.

What involved with the display the decline was a in other income, mainly due to the minor trading profit of Rs 121 crore during the quarter ending by June contrasted to Rs 358 crore a year before. Net interest income, however, circled by 45.4 per cent to Rs 2,618.57 crore.