Central Bank Of India Reports 53pc Jump In Q1 Net To Rs 206 Crores
- ByStartupStory | July 28, 2021
State-run Central Bank of India reported a 53 percent jump year-on-year in its net profit to Rs 206 crore in the April-June quarter of this fiscal. Last year in April-June 2020, the bank had reported a net profit of Rs 135 crore. It had reported a loss of Rs 1,349 crore in the preceding quarter ended in March 2021. Total income decreased from Rs 6,726.68 crore in Q1FY21 to Rs 6,245.54 crore in the first quarter of 2021-22, the bank said in a regulatory filing.
Net interest income remained almost flat at Rs 2,135 crore in the quarter against Rs 2,146 crore in the year-ago quarter. Gross non-performing assets (NPAs or bad loans) fell to 15.92 per cent of the gross advances by the end of June this year from 18.10 percent a year ago, it said. Net NPAs improved from 6.76 percent to 5.09 percent.
Provision coverage ratio improved to 84.28 per cent as of June 30, 2021 from 79.12 percent. The bank said the slippage ratio during the quarter increased to 0.95 per cent from 0.02 per cent in the previous quarter as moratorium was granted by the RBI due to Covid-19 pandemic in June 2020 quarter. Central Bank of India shares traded at Rs 24.55 apiece on BSE, down 1.01 percent from the previous close.
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