Central Bank of India Q2 Results 2023

Read this story to learn about Q2- highlights, performance, earnings, dividend updates, market performance, etc.,

Highlights of the Result

· The total income of the company stood at ₹8,411.92 Cr · The net profit for Q2 FY’24 stood at ₹ 605.43 Cr · The net interest income (NII) of ₹3,028 Cr

Performance Highlights

· CBI’s gross non-performing asset (NPA) improved to 4.62% from 9.67% during Q2 FY’23 · The Profit after tax (PAT) saw an impressive surge of 90.25% YoY · The Net Interest Income (NII) also rose 10.23% YoY

Profit Gains

Year-over-year, operating profit increased by 13.47% to ₹3,369 Cr from ₹2,969 Cr. However, on a half-yearly basis, it dipped by 12.47% to ₹1,530 Cr due to rising non-staff operating expenses.

Company’s Expenses

At the same time, the expenses shot up during the quarter. The company reported a total expense of ₹ 6,881.48 Cr for the quarter under review.

Source: Central Bank of India Financial Report – Q2 Report, BSE