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The abbreviation for profit and loss statement or income statement is PNL statement or statement of income and expenses. The output helps businesses see the profitability by determining total income, minus operating costs, taxes and other expenses. In the statement, gross profit, operating profit and net profit are some key elements. It is used by companies to understand changes in the financial performance of a company and it helps companies to make the best business decisions from the data that is extracted. PNL statements are also looked at by investors and lenders to determine whether or not a company is financially stable and has the ability to grow in the future. Now you got answer for pnl meaning.