Central Bank of India Q1 profit rises 14.2% to Rs 234 cr; bad loans drop
Central Bank of India on Monday reported a 14.2 per cent rise in standalone net profit at Rs 234.78 crore in first quarter ended June this fiscal on fall in bad loans, even as its expenses increased.
The State-owned lender had posted a net profit of Rs 205.58 crore in the same quarter a year ago.
However, compared sequentially, the profit was down by 24.3 per cent from Rs 310.31 crore in the quarter ended March 2022.
Total income during April-June period of 2022-23 increased slightly at Rs 6,357.48 crore, as against Rs 6,299.63 crore in the same quarter of 2021-22, Central Bank of India said in a regulatory filing.
Total income was down from Rs 6,419.58 crore in the March 2022 quarter.
Bank's bad loans proportions remained high, but fell to 14.90 per cent of the gross advances by the end of June 30, 2022, as compared to 15.92 per cent in the year-ago period.
In value-terms, the gross NPAs were worth Rs 29,001.63 crore, up from Rs 27,891.70 crore by June 2021.
Net NPAs or bad loa