Public
sector lender Central Bank of India 's first quarter (April-June) net profit
shot up 8.74 times to Rs 191.6 crore from Rs 21.9 crore in the same quarter
last fiscal on strong net interest income and lower provisions but impacted by
lower other income and huge tax cost.
Net
interest income, the difference between interest earned and interest expended,
grew 18.5 percent on yearly basis to Rs 1,822 crore in the quarter ended June
2014 while othe income fell 27.9 percent to Rs 431.05 crore during the same
period year-on-year.
Asset
quality improved sequentially with the gross non-performing assets (NPAs)
declined (up 12 basis points year-on-year) to 6.15 percent in June quarter from
6.27 percent in March quarter and net NPA falling (down 23 bps) to 3.62 percent
from 3.75 percent Q-o-Q.
Provisions
dropped 34.4 percent to Rs 644.8 crore in first quarter of current financial
year 2014-15 from Rs 983.3 crore in corresponding quarter of last fiscal but
increased 18.9 percent sequentially.
Tax
expenses for April-June quarter stood at Rs 137.14 crore as against refund of
Rs 4.62 crore in same quarter last fiscal.
Capital
adequacy ratio (as per Basel-III norms) slipped to 9.62 percent from 9.87
percent on sequential basis and 11.32 percent on yearly basis.
Public sector lender
Central Bank of India 's first quarter (April-June) net profit shot up
8.74 times to Rs 191.6 crore from Rs 21.9 crore in the same quarter last
fiscal on strong net interest income and lower provisions but impacted
by lower other income and huge tax cost.
Net interest income, the difference between interest earned and interest
expended, grew 18.5 percent on yearly basis to Rs 1,822 crore in the
quarter ended June 2014 while othe income fell 27.9 percent to Rs 431.05
crore during the same period year-on-year.
Asset quality improved sequentially with the gross non-performing assets
(NPAs) declined (up 12 basis points year-on-year) to 6.15 percent in
June quarter from 6.27 percent in March quarter and net NPA falling
(down 23 bps) to 3.62 percent from 3.75 percent Q-o-Q.
Provisions dropped 34.4 percent to Rs 644.8 crore in first quarter of
current financial year 2014-15 from Rs 983.3 crore in corresponding
quarter of last fiscal but increased 18.9 percent sequentially.
Tax expenses for April-June quarter stood at Rs 137.14 crore as against
refund of Rs 4.62 crore in same quarter last fiscal.
Capital adequacy ratio (as per Basel-III norms) slipped to 9.62 percent
from 9.87 percent on sequential basis and 11.32 percent on yearly basis.
Read more at: http://www.moneycontrol.com/news/results/central-bankindia-q1-profit-jumps-9-times-to-rs-192-cr_1138275.html?utm_source=ref_article
Public sector lender
Central Bank of India 's first quarter (April-June) net profit shot up
8.74 times to Rs 191.6 crore from Rs 21.9 crore in the same quarter last
fiscal on strong net interest income and lower provisions but impacted
by lower other income and huge tax cost.
Net interest income, the difference between interest earned and interest
expended, grew 18.5 percent on yearly basis to Rs 1,822 crore in the
quarter ended June 2014 while othe income fell 27.9 percent to Rs 431.05
crore during the same period year-on-year.
Asset quality improved sequentially with the gross non-performing assets
(NPAs) declined (up 12 basis points year-on-year) to 6.15 percent in
June quarter from 6.27 percent in March quarter and net NPA falling
(down 23 bps) to 3.62 percent from 3.75 percent Q-o-Q.
Provisions dropped 34.4 percent to Rs 644.8 crore in first quarter of
current financial year 2014-15 from Rs 983.3 crore in corresponding
quarter of last fiscal but increased 18.9 percent sequentially.
Tax expenses for April-June quarter stood at Rs 137.14 crore as against
refund of Rs 4.62 crore in same quarter last fiscal.
Capital adequacy ratio (as per Basel-III norms) slipped to 9.62 percent
from 9.87 percent on sequential basis and 11.32 percent on yearly basis.Read more at: http://www.moneycontrol.com/news/results/central-bankindia-q1-profit-jumps-9-times-to-rs-192-cr_1138275.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/results/central-bankindia-q1-profit-jumps-9-times-to-rs-192-cr_1138275.html?utm_source=ref_article
Public sector lender
Central Bank of India 's first quarter (April-June) net profit shot up
8.74 times to Rs 191.6 crore from Rs 21.9 crore in the same quarter last
fiscal on strong net interest income and lower provisions but impacted
by lower other income and huge tax cost.
Net interest income, the difference between interest earned and interest
expended, grew 18.5 percent on yearly basis to Rs 1,822 crore in the
quarter ended June 2014 while othe income fell 27.9 percent to Rs 431.05
crore during the same period year-on-year.
Asset quality improved sequentially with the gross non-performing assets
(NPAs) declined (up 12 basis points year-on-year) to 6.15 percent in
June quarter from 6.27 percent in March quarter and net NPA falling
(down 23 bps) to 3.62 percent from 3.75 percent Q-o-Q.
Provisions dropped 34.4 percent to Rs 644.8 crore in first quarter of
current financial year 2014-15 from Rs 983.3 crore in corresponding
quarter of last fiscal but increased 18.9 percent sequentially.
Tax expenses for April-June quarter stood at Rs 137.14 crore as against
refund of Rs 4.62 crore in same quarter last fiscal.
Capital adequacy ratio (as per Basel-III norms) slipped to 9.62 percent
from 9.87 percent on sequential basis and 11.32 percent on yearly basis.
Read more at: http://www.moneycontrol.com/news/results/central-bankindia-q1-profit-jumps-9-times-to-rs-192-cr_1138275.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/results/central-bankindia-q1-profit-jumps-9-times-to-rs-192-cr_1138275.html?utm_source=ref_article
