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Last Updated : Aug 07, 2019 07:24 PM IST | Source: PTI

Central Bank of India shares jump nearly 17% post Q1 results

In terms of volume, 4.08 lakh shares were traded on the BSE and over 49 lakh on the NSE.

 
 
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Shares of Central Bank of India zoomed nearly 17 percent on Wednesday after the lender reported a net profit of Rs 118.33 crore for the June quarter. The scrip advanced 15.23 percent to close at Rs 20.05 on the BSE. Intra-day, the stock jumped 18.39 percent to Rs 20.60.

On the NSE, shares rose 16.66 percent to close at Rs 20.30.

In terms of volume, 4.08 lakh shares were traded on the BSE and over 49 lakh on the NSE.

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Central Bank of India on Tuesday reported a net profit of Rs 118.33 crore for the June quarter as against a loss in the year-ago period on falling provisions for bad loans.

In April-June 2018-19, the public sector lender had reported a loss of Rs 1,522.24 crore.

Total income in the latest quarter rose to Rs 6,493.55 crore as against Rs 5,904.82 crore in the year-ago period, the bank said in a regulatory filing.

The lender witnessed an improvement in its asset quality as gross non-performing assets (NPAs) were brought down to 19.93 percent of gross advances as at end of June 2019, from 22.17 percent by the year-ago period.

Net NPAs or bad loans came down to 7.98 percent from 10.58 percent.

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First Published on Aug 7, 2019 06:38 pm
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