Central Bank's Q1 pre-tax profit up over four-fold at Rs 316.33 cr

Higher net interest income, dip in provisions drive profits

Central Bank of India’s profit before tax (PBT) rose around 351 per cent to Rs 316.33 crore in the quarter ended June 30 (Q1FY21) from Rs 70.05 crore in Q1FY20, on sharp growth in net interest income (NII) and lower provisions and contingencies.

The lender’s net profit for the quarter rose to Rs 135.43 crore from Rs 118.33 crore in Q1Fy20. Its capital adequacy ratio stood at 11.5 per cent as of June 30.

The bank’s stock closed 1.97 per cent higher at Rs 18.15 apiece on the BSE Sensex. 

The NII rose 19.83 per cent year-on-year (YoY) to Rs 2,145.3 crore in