Central Bank consolidated PAT ₹1,323 Cr, +5% YoY (~13% adjusted); other income halving drags topline
PAT +5.43% YoY · revenue +12.78% · margins compressing
₹9,725.9 Cr
+12.78% YoY
₹1,323.13 Cr
+5.43% YoY
12.35%
+0.2pp YoY
₹1.46
Central Bank of India's consolidated Q1FY27 net profit was ₹1,323 Cr (after minority/associates), versus ₹1,282 Cr a year ago; on the bank's headline pre-associate basis, PAT was ₹1,329 Cr against ₹1,260 Cr, i.e. +5.4% YoY. That reported growth understates the underlying run-rate: the year-ago quarter included a ₹85 Cr exceptional gain (this quarter has none), so adjusted YoY PAT growth is ~13% — squarely in line with standalone PAT's +13.3% (₹1,324 Cr vs ₹1,169 Cr). Core interest income grew a healthy 12.8% YoY to ₹9,726 Cr.
Q1 FY-2027 vs prior quarters
The modest reported bottom-line growth masks a mixed operating quarter. Total income rose only 3.1% because other income nearly halved to ₹988 Cr (from ₹1,772 Cr), while interest expended climbed on deposit repricing — so operating profit actually fell 5.1% YoY and operating margin compressed to 20.5% from 22.2%. The profit was carried instead by a 22% drop in provisions (to ₹405 Cr) and a lower tax charge: this is a credit-cost/asset-quality print, not an operating-leverage one. Asset quality did improve materially — gross NPA fell to 2.61% (from 3.14%), net NPA to 0.51%, PCR 95.86%, and ROA held near 1%.
The stock went into the print at ₹32.21, down 4.9% over the past month of trading.
For context: this is the highest quarterly PAT in the last 6 quarters on our records; revenue is at a 6-quarter high.
Management guides for 14-16% advances growth and 10-12% deposit growth in FY27, driven by the Retail, Agriculture, and MSME (RAM) segments, which will be maintained at a 65:35 mix with corporate lending. They are confident in keeping the slippage ratio below 1% and maintaining a Net Interest Margin (NIM) above 3%. The
— This quarter: met
On the business, gross advances grew 28.8% YoY to ₹3.55 lakh Cr and deposits 11.7% to ₹4.79 lakh Cr, taking total business to ₹8.34 lakh Cr (+18.4%), per the bank's early-July provisional updates; CASA ratio was 46.6% and CRAR a comfortable 18.28%. Deposit growth sits inside management's 10-12% FY27 guidance while advances run well ahead of the guided 14-16% — RAM-led, consistent with the last concall's optimistic tone. No brokerage consensus for the quarter is on record, so a street comparison is not available. A governance flag: with too few independent directors, the audit committee quorum could not be met and results were placed directly before the Board (still limited-reviewed, unmodified opinion).
What to watch
W1
Other income recovery: down 44% YoY to ₹988 Cr this quarter and the main reason total income growth was capped at 3% — watch treasury/fee income next quarter.
W2
Credit-cost normalization: provisions of ₹405 Cr (−22% YoY) did the heavy lifting on PAT; management's <1% slippage target and 95.86% PCR need to hold for the print to be repeatable.
W3
Advances vs guidance: +28.8% YoY runs well ahead of the 14-16% FY27 advances guidance — monitor sustainability and whether NIM stays above the guided 3% as deposits reprice.
Banking-format results in ₹ Lakh, converted to ₹ Cr. revenueFromOperations = 'Interest earned' (matches our DB revenue convention). totalExpenses includes Provisions & Contingencies (₹401.6 Cr SA / ₹405.0 Cr Cons) to preserve TotalIncome−Expenses=PBT. Consolidated PAT ₹1,323.13 Cr is after share of associates (loss ₹4.34 Cr) and minority interest (₹1.48 Cr); pre-associate 'net profit from ordinary activities' is ₹1,328.95 Cr. Prior-year Q1FY26 consolidated carried a ₹84.85 Cr exceptional GAIN (current quarter nil) — key to adjusted growth. Board audit-committee quorum not met (insufficient independent directors); results placed directly before Board, limited review, unmodified opinion.
Informational and educational content only. Not investment advice.