Central Bank Q3 up 59% at Rs 180 cr

Central Bank of India today reported 59 per cent jump in net profit at Rs 179.94 crore, for the third quarter ended December 2012.

The public-sector bank's net profit stood at Rs 113.24 crore in the year-ago period.

Net interest income rose by 19.6 per cent to Rs 1,409.7 crore from Rs 1,179 crore during the same period, the bank said in a BSE filing.

However, its gross non-performing assets (NPA) rose marginally at 5.64 percent, while net NPAs remained flat at 3.79 per cent in October-December quarter of 2012, it said.

Moreover, Central Bank's provisions against bad loans recorded a substantial increase during the third quarter at Rs 627.67 crore, from Rs 427.12 crore in the previous quarter, it added.

Besides, its capital adequacy ratio stood at 10.78 per cent in the same quarter as against 11.6 per cent in the seond quarter. Shares of Central Bank of India closed down by 2.35 per cent at Rs 83.05 on the BSE.

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