PSU bank reports a strong performance with a 73 per cent rise in Q4 consolidated net profit!

As the season of financial results is on the bank has reported results today.

On a consolidated basis, the Central Bank of India recorded a 72.68 per cent increase in net profit for the fourth quarter ended March 31, 2023, to Rs 591.00 crore, up from Rs 342.26 crore for the same quarter the year prior. In Q4FY23, the bank's total revenue climbed by 33.37 per cent to Rs 8,595.68 crore from Rs 6,444.82 crore in a similar period the year prior. 

On a consolidated basis, the bank recorded a 56.05 per cent increase in net profit for the year ended March 31, 2023, from Rs 1,075.79 crore to Rs 1,678.78 crore. When compared to the year ended March 31, 2022, the bank's total revenue increased by 14.96 per cent, reaching Rs 29,741.59 crore from 25,870.83 crore for the year under review. 

On April 28, 2023, the scrip closed at Rs 30.35 at BSE and today opened at Rs 31 and currently trading at Rs 30.52. Till now it has touched a high and low of Rs 31.21 and Rs 30.42, respectively. So far 16,76,201 shares were traded on the counter at BSE. It has touched a 52-week high of Rs 41.80 and a 52-week low of Rs 16.10. 

The first commercial bank in India that was entirely owned and run by Indians was the Central Bank of India. The bank offers a wide range of products and services under the categories of Individual, and NRI and it provides a range of goods and services for businesses.