Profit before tax in Q1 FY21 surged to Rs 316.33 crore from Rs 70.05 crore in Q1 FY20. Tax expense stood at Rs 180.90 crore in the first quarter.

Net Interest Income (NII) jumped 19.89% to Rs 2146 crore in the June quarter from Rs 1790 crore in the same period last year. Net Interest Margin (NIM) was at 3.08% as on 30 June 2020 as against 2.62% as on 30 June 2019.

The bank's provisions and contingencies fell 5.81% to Rs 974 crore in Q1 June 2020 from Rs 1034 crore in Q1 June 2019. Of this, provisions for non-performing assets declined by 27.61% on a year-on-year (YoY) basis to Rs 649 crore during the quarter.

Provisioning Coverage Ratio (PCR) of the bank as at 30 June 2020 is 79.12% as against 76.85% as at 30 June 2019. "Bank has made provision of Rs 161.75 crore during the quarter in accounts where moratorium due to COVID-19 pandemic was extended. The total provision of Rs 305 crore is held by the Bank as on 30 June 2020," Central Bank of India said in a statement.

On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 31,946 crore as on 30 June 2020 as against Rs 32,589 crore as on 31 March 2020 and Rs 32,908 crore as on 30 June 2019.

The ratio of gross NPAs to gross advances stood at 18.10% as on 30 June 2020 as against 18.92% as on 31 March 2020 and 19.93% as on 30 June 2019.

The ratio of net NPAs to net advances stood at 6.76% as on 30 June 2020 as against 7.63% as on 31 March 2020 and 7.98% as on 30 June 2019.

Total deposits rose by 7.88% to Rs 3,21,252 crore while net advances increased by 7.99% to Rs 1,54,919 crore in Q1 FY21 over Q1 FY20.

Central Bank of India, a public sector banking institution has their branches in 27 states and 4 union territories in India. As of 30 June 2020, the Government of India held 92.39% stake in the bank.