Public sector lender Central Bank of India reported a 21% rise in its consolidated net profit at Rs 147.21 crore in the quarter ending June. The bank had posted a net profit of Rs 121.61 crore during the same quarter a year ago.
Total income of the bank rose to Rs 6,751.86 crore during Q1 FY 2020-21 as against Rs 6,518.37 crore in the Q1 FY20, Central Bank of India said in a regulatory filing.
The net Non-performing Assets (NPA) ratio came down to 6.76 per cent in this quarter FY21 from 7.98 per cent in Q1 FY20.
This helped the bank cut down on its provisions for bad loans and contingencies, which stood at Rs 974.64 crore for June quarter FY21 as against Rs 1,034.78 crore a year-earlier period.
On August 12 11:48, the stock was trading at Rs 18.50 on the BSE.
