Central Bank of India on Thursday reported that its net profit for the third quarter ended December 31, 2013 tumbled by nearly 66 per cent at Rs 61.53 crore from the same period a year ago as other income dipped marginally and provisions rose.
In Q3 FY 2012-13, the public sector lender had posted a net profit of Rs 179.94 crore, Central Bank of India said in a filing to the Bombay Stock Exchange (BSE).
Total income grew by 15.3 per cent to Rs 6,708.5 crore in Q3 FY 2013-14 from Rs 5,818.81 crore in the same period a year ago.
Net interest income rose by 28 per cent to Rs 1,807.57 crore in Q3 FY 2013-14 from Rs 1,409.67 crore in the same period a year ago.
Other income fell by 0.63 per cent at Rs 354.59 crore in Q3 FY 2013-14 from Rs 356.85 crore in the same period a year ago.
Provisions and contingencies (other than tax) grew by 4.81 per cent at Rs 657.89 crore in Q3 FY 2013-14 from Rs 627.67 crore in the same period a year ago.
Gross NPA percentage rose to 6.48 per cent in Q3 FY 2013-14 from 5.64 per cent in the year ago period, while Net NPAs fell to 3.69 per cent from 3.79 per cent in the period, signaling slight improvement in asset quality.