Provisions, including for bad loans, rose almost three-fold to Rs 859 crore from Rs 306 crore a year earlier
Central Bank of India has tumbled 13% to Rs 76.90 after reporting net loss of Rs 105 crore for the fourth quarter ended March 2012, due to higher provisioning. The state-owned bank had posted a net profit of Rs 133 crore in a year ago quarter.
Net interest income (NII), the difference between interest paid for funds and interest earned from loans, has dipped 17% at Rs 1,184 crore on year-on-year basis.
Provisions, including for bad loans, rose almost three-fold to Rs 859 crore from Rs 306 crore a year earlier, while net non-performing loans increased to 3.09% of total assets from 0.65%, the bank said in a filing.
A combined 6.36 million shares have changed hands on the counter so far on the NSE and BSE.
Source : BS
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