Central Bank of India Q4 FY11 net profit at Rs. 13270 lakhs

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Central Bank of India posted its last quarter results for the year ended March 31, 2011 on May 6, 2011. The bank has registered a decrease in its net profit by 22.42% amounting to Rs. 13270 lakhs in the quarter ended March 2011 as compared to Rs. 17106 lakhs in the corresponding quarter last year.

The interest earned showed 34.15% increase, from Rs. 315501 lakhs to Rs. 423230 lakhs. Interests on advances/ bills increased 40.39%. Total income moved up 27.69%, from Rs. 372395 lakhs to Rs. 475521 lakhs. Interest expended increased 12.54%, from Rs. 249135 lakhs to Rs. 280376 lakhs and operating expenses increased by 153.75%. Provisions (other than tax) increased by 4.98%, from Rs. 29150 lakhs to Rs. 30602 lakhs.

Considering the yearly results for the year ended March 31, 2011, net profit increased by 18.35%, from Rs. 105823 lakhs to Rs. 125241 lakhs. Interest on balances with RBI and other inter-bank funds decreased by 44.68% to Rs. 5679 lakhs. Total interest earned increased 26.16%, from Rs. 1206431 lakhs to Rs. 1522057 lakhs. Other income decreased by 27.10%, to Rs. 126504 lakhs, taking down the increase in total income to 19.46%, from Rs. 1379955 lakhs to Rs. 1648561 lakhs.

Total expenditure (excluding provisions) increased 18.34%, to Rs. 1389422 lakhs. Provisions (other than tax) increased by 83.15%, from Rs. 50898 lakhs to Rs. 93222 lakhs.

The Board of Directors of the Bank has recommended a final dividend at 25% on the Equity Share Capital (i.e. Rs. 2.50/- Per Equity Share of Rs. 10/- each) including an interim dividend at 10% on Equity Share Capital (i.e. Rs. 1.00/- Per Equity Share of Rs. 10/- each) declared earlier by the bank during the Financial Year 2010-11, subject to approval of the Government of India and the Shareholders.

Read more about: central bank, results, tax, bank
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