The Central Bank of India on Wednesday reported a 64.3 percent rise in its profit for the December quarter at Rs 458.2 crore against Rs 278.9 crore in the preceding year. Net interest income or NII came at Rs 3,284.5 crore, up up 19.9 percent from Rs 2,738.4 crore on year-on-year basis. Gross Non performing assets or NPA came at 8.85 percent vs 9.67 percent quarter-on-quarter and net NPA at 2.09 percent vs 2.95 percent in the previous quarter.
The Gross NPA for the period under review was reported at Rs 18,490 crore against Rs 19,059 crore in the previous quarter and net NPA came at Rs 4,061 crore vs Rs 5,407 crore quarter-on-quarter. Provisions at Rs 995 crore against Rs 1,125 crore on quarter-on-quarter basis and against Rs 736 crore on year-on-year basis.
The shares were trading 0.2 percent lower at Rs 32.5 on December quarter numbers. The stock has gained in three out of last five trading session. The stock has grown 51.3 percent in one year.
The lender exited the PCA framework of the Reserve Bank of India in the September quarter, after demonstrating sustained performance under all the parameters during the last 5 quarters.
Central Bank of India had reported a 27 percent growth in its net profit to Rs 318 crore during the September quarter. Central Bank of India is a public sector bank with the Government of India holding 93.08 percent stake in the bank.
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