PNB Gilts Limited shares hit a day high of Rs 79 on 13 October after the company swung to a Rs 44.84 crore profit in the September quarter.

The company told exchanges on 13 October that it earned Rs 44.84 crore in net profit for the quarter ended September.

A year earlier, it lost Rs 45.35 crore in the same quarter. Profit before tax tells the same story: Rs 60.24 crore, against a loss of Rs 53.24 crore a year ago.

The picture is mixed. Net profit fell 44.4% from Rs 80.70 crore in the June quarter. Total income slipped about 4% to Rs 436.59 crore, and it was also down about 1.5% from Rs 443.41 crore a year ago.

Net interest income, the money left after paying its own interest costs, came in at Rs 92.17 crore. That compares with Rs 102.69 crore in the previous quarter.

Trading hurt as well. The firm booked a loss of about Rs 17.7 crore on changes in the value of its holdings, against a gain of Rs 18.23 crore in the June quarter.

Over the first six months of the year, net profit reached Rs 125.53 crore, up about 9.4% from Rs 114.72 crore in the same period last year.

According to its filing, it is India’s only listed standalone primary dealer. Primary dealers act as market makers in government securities, which means they help keep buying and selling of those bonds smooth.

The company said global uncertainty, crude oil prices and inflation made bond yields swing more than usual. It said that called for careful risk management and disciplined trading.

The stock also went ex-dividend on 21 September for a Rs 2 per share payout.

At 15:10 pm on 13 October, PNB Gilts traded at Rs 74.61 on NSE, up Rs 3.90 or 5.52% from the previous close of Rs 70.71.

The stock opened at Rs 70.80 and touched a low of Rs 70.63. Its 52-week range runs from Rs 58.60 to Rs 99.80.

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