The Central Bank of India records earnings of Rs 139 cr in the second quarter
New Delhi, November 1 () The Central Bank of India was back in the black, recording a consolidated net profit of Rs 138.58 million rupees for the September quarter of the current tax as delinquent loans fell.
The state lender had published a loss of Rs 935.54 rupees in the same period of the previous year. In the period from April to June of this fiscal year, the lender recorded a gain of Rs 121.61 crore.
Revenues during the review period increased to Rs. 6,728.17 rupees against Rs. Rs 6,224.05 in the same period last year, the bank said in the regulatory filing.
Independently, net profit stood at Rs 134.07 million. In the September quarter of the previous fiscal year, there was a loss of Rs 923.60 crore.
Gross non-productive assets (NPA) were reduced to 19.89 percent (Rs 33,497.22 million rupees) of gross advances at the end of September 2019 from 21.48 percent (Rs 37,410.76 million rupees) in the same period of the previous year.
Net NPAs or bad loans were also reduced to 7.90 percent (Rs 11,551.91 million rupees) from 10.36 percent (Rs 15,794.15 rupees).
Therefore, the provision for bad loans and contingencies (consolidated base) for the quarter of September 2019-20 fell to Rs 794.28 crore from Rs 1,983.18 crore parked aside during the same period of the previous year . The bank's shares closed at Rs 23.75 in the BSE, 4.63 percent more than the previous close. KPM KPM ANU ANU