Central Bank of India advanced 8.33% to Rs 18.85 at 10:50 IST on the BSE after the bank reported a net profit of Rs 118.33 crore in Q1 June 2019 as compared to a loss of Rs 1522.24 crore in Q1 June 2018.
The result was announced after market hours yesterday, 6 August 2019.
Meanwhile, the S&P BSE Sensex was down by 19.88 points or 0.05% at 36,956.57.
On the BSE, 1.39 lakh shares were traded in the counter so far compared with average daily volumes of 47000 shares in the past two weeks. The stock had hit an intraday high of Rs 19.2 and an intraday low of Rs 18.35 so far during the day. The stock hit a 52-week high of Rs 73.8 on 18 September 2018. The stock hit a 52-week low of Rs 16.8 on 5 August 2019.
The bank's total income rose 10% to Rs 6493.55 crore in Q1 June 2019 over Q1 June 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 32900.44 crore as on 30 June 2019 as against Rs 32356.04 crore as on 31 March 2019 and Rs 38777.66 crore as on 30 June 2018.
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The ratio of gross NPAs to gross advances stood at 19.93% as on 30 June 2019 as against 19.29% as on 31 March 2019 and 22.17% as on 30 June 2018.
The ratio of net NPAs to net advances stood at 7.98% as on 30 June 2019 as against 7.73% as on 31 March 2019 and 10.58% as on 30 June 2018.
The bank's provisions and contingencies declined 62.61% to Rs 1034.78 crore in Q1 June 2019 over Q1 June 2018.
The provision coverage ratio of the bank increased to 76.85% in Q1 June 2019 from 66.42% in Q1 June 2018.
The Government holds 89.46% in the bank as on 30 June 2019.
Central Bank of India is a public sector bank engaged in taking deposits, lending money and making investments. They also offer a wide range of general banking services to customers, including credit cards, debit cards, cash management and remittance services and collection services.
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