State-run, Central Bank of India has posted a decline of 4 per cent in the net profit at Rs 162.44 crore for the quarter ended March 31, 2014 on the back of higher provision and weak asset quality.
The Bank had posted a net profit of Rs 169.15 in the corresponding quarter last year, the Bank said in a filing to the Bombay Stock Exchange.
In Q4 FY 13-14, the total income of the bank grew by 8 per cent from Rs 6403.57 crore for the quarter ended March 31, 2013 to Rs 6961.67 crore for the quarter ended March 31, 2014.
During the quarter under review, the bank's gross non-performing assets rose to 6.27 per cent of total loans compared to 4.80 per cent in corresponding quarter of last fiscal. Net NPAs too increased to 3.75 percent from 2.90 per cent on year-on -year basis.
During the quarter under review, total provision increased to Rs 542.33 crore, up 21.9 per cent, from Rs 445.08 crore in the same quarter last year.
For the year ended March 2014, the Bank reported net loss of Rs 1262.8 crore as against net profit of Rs 1014.96 crore in the previous financial year.
Total Income has increased from Rs. 23527.98 crore for the year ended March 31, 2013 to Rs 263501.30 crore for the year ended March 31, 2014.