Mumbai, Feb. 19 -- State-owned Punjab National Bank (PNB) has reported a fraud of Rs 270.57 crore involving Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank of India (RBI).

In a regulatory filing on Tuesday, PNB stated that the fraud pertains to a non-performing asset (NPA) account and was reported by its Station Square branch in Bhubaneswar.

Despite the fraud report, PNB posted a significant rise in financial performance for the December quarter, with net profit more than doubling to Rs 4,508 crore from Rs 2,223 crore a year ago.

On the asset quality front, PNB's gross non-performing assets (NPA) ratio improved to 4.09% from 6.24% a year earlier.

The loan was given by Station Square branch of the bank in Bhubaneswar, i...