Central Bank of India reported a 13.3% year-on-year increase in net profit for the first quarter to Rs 1,324 crore as compared to Rs 1,169 crore in the corresponding period last year. The net interest income (NII), the difference between interest earned and interest paid, rose 16% to Rs 3,914 crore from Rs 3,383 crore a year earlier.
However, operating profit declined 5.1% year-on-year to Rs 2,186 crore as compared to Rs 2,304 crore in the year-ago quarter. The provisions fell to Rs 401.6 crore from Rs 521.1 crore a year earlier and Rs 504.3 crore in the preceding quarter.
The lender's asset quality improved sequentially. Its gross non-performing asset ratio declined by seven basis points to 2.60% from 2.67% in the previous quarter. The net NPA ratio remained unchanged at 0.49%.
No dividend was announced by Central Bank of India.
Central Bank of India Q1 Results - YoY
- Net profit up 13.3% at Rs 1,324 crore vs Rs 1,169 crore
- NII up 16% at Rs 3,914 crore vs Rs 3,383 crore
- Operating profit down 5.1% at Rs 2,186 crore vs Rs 2,304 crore
- Provisions at Rs 401.6 crore vs Rs 521.1 crore
Asset Quality - QoQ
- Gross NPA at 2.60% vs 2.67%
- Net NPA unchanged at 0.49%
- Provisions at Rs 401.6 crore vs Rs 504.3 crore.
Central Bank of India Share Price Today
Central Bank of India Share Price Today
Photo Credit: (Photo: NDTV Profit)
Shares of Central Bank of India Ltd. fell nearly 2% on Friday after the state-run lender reported Q1FY27. The stock was trading at Rs 32.16 apiece, down nearly 2% on the NSE after the lender reporting growth in profit and asset quality improvement.
The stock has fallen 17.43% in the last 12 months and 14.73% year-to-date. Total traded volume so far in the day stood at 15.35 times its 30-day average. The relative strength index was at 52.87.
Track Q1 Results Live Updates Here
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
