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Andhra Bank reports over four-fold jump in Q3 net profit

30 Jan 2015 Evaluate

Andhra Bank has reported results for third quarter ended December 31, 2014.

The bank has reported over four fold rise in its net profit at Rs 201.71 crore for the quarter ended December 31, 2014 as compared to Rs 45.57 crore for the same quarter in the previous year. Total income of the bank has increased by 16.41% at Rs 4540.61 crore for quarter under review as compared to Rs 3900.54 crore for the quarter ended December 31, 2013.

Gross non-performing assets (NPAs) increased to 5.99% in the October- December quarter as against 5.55% in the same quarter previous year, while net NPAs stood at 3.70%.

Peers
Company Name CMP
State Bank Of India 963.90
PNB 122.25
Bank Of Baroda 237.50
Canara Bank 120.05
Union Bank Of India 181.05
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