Mumbai: Central Bank of India Q1 net profit increased to Rs 234.78 crore as against the net profit of Rs 205.58 crore in the same quarter a year ago. 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.
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 loans were trimmed to 3.93 per cent (Rs 6,784.70 crore), from 5.09 per cent (Rs 7,904.03 crore). However, it fell quarter-on-quarter from Rs 1,061 crore for three months to March 2022.
On a consolidated basis, the bank’s net profit grew by 17.6 per cent in the reported quarter to Rs 243.52 crore, from Rs 207.15 crore in the year-ago period. Total income during Q1FY23 rose only marginally to Rs 6,387.24 crore, as against Rs 6,323.23 crore.
