Allahabad Bank reports 73% fall in Q1 net profit

Allahabad Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532480 | NSE: ALBK

25 Jul 2014 Evaluate

Allahabad Bank has reported results for first quarter ended June 30, 2014.

The bank’s net profit for the quarter declined by 72.71% at Rs 112.72 crore as compared to Rs 413.09 crore for the quarter ended June 30, 2013. However, the bank’s total income has increased by 8.94% to Rs 5518 crore for the quarter under review from Rs 5064.95 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal stood at 5.48%, as compared to 4.78% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 3.88% in Q1FY15

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