Central Bank of India Q3 Profit Jumps 31.6% on Strong Other Income, Asset Quality Improves

• Central Bank of India's Q3 net profit surged by 31.6% year-on-year to ₹1,262 crore, up from ₹959 crore.
• The significant profit increase was primarily driven by a higher 'other income', which rose to ₹1,935 crore from ₹1,229 crore.
• Net Interest Income (NII) saw a slight decline of 1% to ₹3,503 crore compared to the previous year.
• Asset quality improved, with Gross NPA decreasing to 2.7% from 3.01% and Net NPA at 0.45% from 0.48% in the September quarter.
• Shares initially gained 3.6% following the results but later settled at a 1.7% increase, trading at ₹38.94.

Why It Matters: Central Bank of India reported a robust 31.6% profit increase in Q3, boosted by other income and improved asset quality.