Central Bank of India Q4 profit declines 4% to Rs 162 crore
Mumbai: Central Bank of India recorded a 4 percent decline in net profit to Rs 162.44 crore in the fourth quarter ended March 31.
The state-owned bank had posted a profit of Rs 169.15 crore in the January-March quarter of 2012-13, according to a filing to the BSE. Total income increased to Rs 6,961.67 crore from Rs 6,403.57 crore.
For 2013-14, the bank made a loss of Rs 1,262.84 crore, compared with a profit of Rs 1,014.96 crore in the previous financial year, due to higher provisioning.
Total income in 2013-14 rose to Rs 26,350.13 crore from Rs 23,527.98 crore in 2012-l3.
Provisions, other than tax, and contingencies surged to Rs 4,232.57 crore in FY14 compared with Rs 1,852.81 crore in FY13.
The bank's gross non-performing assets (NPAs), or bad loans, as a percentage of total advances, rose to 6.27 percent from 4.8 percent in the same quarter a year ago.
Net NPAs increased to 3.75 percent from 2.9 percent at the end of March 2013.