India's Punjab National Bank reported its second consecutive quarter of loss as the country's second-biggest state-run lender set aside more funds for a massive fraud it disclosed earlier this year.

Net loss was 9.40 billion rupees ($136.72 million) for the three months to June 30, compared with a profit of 3.43 billion rupees a year earlier, the bank said in a statement.

That compared with an estimated average loss of 24.18 billion rupees based on the views of 15 analysts compiled by Thomson Reuters I/B/E/S.

PNB, the fourth-biggest bank by assets among all of India's lenders, in February said it had been defrauded by two jewellery groups which raised more than $2 billion credit overseas using fake guarantees provided by the bank's staff at a Mumbai branch.

($1 = 68.7550 Indian rupees)

(Reporting by Chris Thomas in Bengaluru Editing by Christopher Cushing) ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters Messaging: chris.thomas.thomsonreuters.com@reuters.net))