Central Bank of India reports net loss of Rs 600 crore in Q1

Central Bank of India has reported results for first quarter ended June 30, 2016.

The bank has posted a net loss of Rs 599.81 crore for the quarter ended June 30, 2016 as compared to a net profit of Rs 203.60 crore for the same quarter in the previous year. Total income of the bank decreased by 6.15% to Rs 6662.68 crore for the quarter under review from Rs 7098.99 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 13.52%, as compared to 6.70% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 8.17% in Q1FY17.