Central Bank of India Q3 net profit jumps 64% on year
Net interest income,or the income a bank earns by giving loans, rose 20% year on year to Rs 3284.46 crore. Other income jumped nearly 94% year on year to Rs 919.16 crore from Rs 474.26 crore.
January 18, 2023 / 02:27 PM IST
Central Bank of India reported a net profit of Rs 458.22 crore from Rs 278.92 crore a year ago.
Central Bank of India reported a 64 percent jump in net profit for the December quarter on January 18 after strong growth in net interest income and other income..
The state lender reported a net profit of Rs 458.22 crore as against Rs 278.92 crore a year ago.
At 2:26 pm, the stock was trading at Rs 32.60 on BSE, up 0.3 percent from its previous close while benchmark index Sensex rose 0.61% to 61,025 points.
Net interest income rose 20 percent year on year to Rs 3284.46 crore. Other income jumped nearly 94 percent year on year to Rs 919.16 crore from Rs 474.26 crore.
Meanwhile, provisions and contingencies rose 35.2 percent from a year ago to Rs 995.47 crore versus Rs 736.26 crore.
The bank's gross non-performing assets (NPAs) fell 33 percent to Rs 18,490 crore at the end of the December quarter from Rs 27,608.37 crore in the same quarter of the previous year.
As a percentage of total loans, gross NPAs stood at 8.85 percent compared to 9.67 percent in the previous quarter and 15.16 percent in the year-ago period. Net NPAs were at 2.09 percent in the December quarter compared to 2.95 percent in the previous quarter and 4.39 percent in the same quarter last year.
Advances for the quarter rose 15.64 percent to Rs 1.94 lakh crore from a year ago. Deposits rose marginally 0.62 percent to Rs 3.45 lakh crore.
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