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Weighed down by a sharp jump in provisions towards bad loans, Central Bank of India reported a huge net loss of ₹642 crore in the July-September quarter against a net profit of ₹113 crore in the year-ago period.
Net interest incomeIn the reporting quarter, the public sector bank’s net interest income (difference between interest earned and interest expended) declined 11.50 per cent to ₹1,693 crore (₹1,913 crore in the year-ago period).
Other income, however, was up 64 per cent to ₹777 crore (₹473 crore).
Operating profit nudged up a tad to ₹855 crore (₹848 crore). Provisions towards non-performing assets soared 157 per cent to ₹1,661 crore (₹645 crore).
Gross non-performing assets (GNPAs) jumped 93 per cent year-on-year to ₹25,718 crore (₹13,358 crore).
As on September-end 2016, GNPAs as a percentage of gross advances rose to 13.70 per cent from 6.86 per cent as on September-end 2015.
On the BSE, shares of the public sector bank closed at ₹88.50 a piece, down 2.96 per cent over the previous close.
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