Central Bank of India reports 53pc jump in Q1 net to Rs 206cr

State-run Central Bank of India posted a 53 percent jump year-on-year in its net profit to Rs 206 crore in the April-June quarter of this fiscal.

The bank had reported a net profit of Rs 135 crore in April-June 2020. It had reported a loss of Rs 1,349 crore in the preceding quarter ended in March 2021.

Total income declined to Rs 6,245.54 crore in the first quarter of 2021-22 from Rs 6,726.68 crore in Q1FY21, 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 percent of the gross advances by end of June this year from 18.10 percent by year ago same period, it said.

Net NPAs improved to 5.09 percent from 6.76 percent.

The provision coverage ratio improved to 84.28 percent as of June 30, 2021, from 79.12 percent.

The bank said the slippage ratio during the quarter increased to 0.95 percent from 0.02 percent in the year-ago quarter as the moratorium was granted by the RBI due to the 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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)