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Andhra Bank reports 54% fall in Q1 net profit

04 Aug 2014 Evaluate

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

The bank’s net profit for the quarter declined by 53.74% at Rs 107.00 crore as compared to Rs 231.28 crore for the quarter ended June 30, 2013. However, the bank’s total income has increased by 9.14% to Rs 4205.06 crore for the quarter under review from Rs 3854.16 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 5.98%, as compared to 4.73% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 3.89% in Q1FY15.

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