Central Bank of India shares drop over 6 pc after Q4 earnings

Shares of Central Bank of India tumbled over 6 per cent Thursday after the company reported widening of losses to Rs 2,477.41 crore in the last quarter of 2018-19.

The scrip dropped 6.33 per cent to close at Rs 25.90 on the BSE. During the day, it plunged 8.31 per cent to Rs 25.35 -- its 52-week low.

On the National Stock Exchange, shares tanked 5.98 per cent to close at Rs 25.90 apiece.

The bank had reported a loss of Rs 2,113.51 crore in the January-March period of 2017-18. The bank had reported a loss of Rs 718.23 crore for the third quarter ended December 2018.

Its total income grew to Rs 6,620.51 crore in the three months to March from Rs 6,301.50 crore in the year-ago period, Central Bank of India said in a regulatory filing Wednesday.

For the full financial year 2018-19, the bank's loss widened to Rs 5,641.48 crore, against Rs 5,104.91 crore in the previous fiscal.

Gross non-performing assets stood at 19.29 per cent of gross advances at the end of March 2019, against 21.48 per cent in the year-ago period.