The shares of this commercial bank offering a wide range of financial products and services jumped 3 percent in the day’s trade following the release of its Q3FY24 results with a jump in net profit by 55 percent YoY.
The shares of Central Bank of India Limited closed at Rs. 54.25, up 2.75 percent from its previous day’s close price of Rs. 52.80 and its market capitalization of Rs. 47,398 Crores.
Its income grew by 19.64 percent YoY from Rs. 7665.59 Crores in Q3FY23 to Rs. 9171.16 Crores in Q3FY24 and it grew 8.68 percent QoQ from Rs. 8438.51 Crores in Q2FY24 to Rs. 9171.16 Crores in Q3FY24.
Its Net Profit grew by 55.12 percent YoY from Rs. 473.47 Crores in Q3FY23 to Rs. 734.47 Crores in Q3FY24 and it grew 18.09 percent QoQ from Rs. 621.95 Crores in Q2FY24 to Rs. 734.47Crores in Q3FY24.
Here are some of the ratios that can determine the financial performance of the business, it reported a GNPA of 4.50 percent, NNPA of 1.28, a Net profit margin of 8.01 percent, and a ROA of 0.71 percent on an annualised basis.
Central Bank of India Limited is a commercial bank with a wide range of products and services portfolio that includes home loans, gold loans, business loans, microfinance, and many more catering to both retail and corporate clients.
It has reported a return on equity (ROE) of 5.92 percent and a return on capital employed (ROCE) of 4.29 percent, it is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 93.08 percent stake, the Domestic Institutional Investors hold 2.79 percent and the Foreign Institutional Investors (FII) hold 0.07 percent.
Written by: Bharath K.S
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