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Andhra Bank reports fall of 8% in Q3 net profit

02 Feb 2012 Evaluate

Andhra Bank has reported results for third quarter ended December 31, 2011.

The bank has reported a fall of 8.38% in its net profit of Rs 303.17 crore for the quarter ended December 31, 2011 as compared to Rs 330.91 crore for the same quarter in the previous year. Total income has increased by 36.12% from Rs 2,320.20 crore for Q3FY11 to Rs 3,158.26 crore in the quarter under review.

The banks’ gross NPA stood at 2.38% for the quarter ended December 31, 2011 as compared to 1.33% in the quarter ended December 31, 2010. Its net NPA also rose at 1.21% in Q3FY12 as compared to 0.47% in Q3FY11. Further, the bank’s Return on Assets (ROA) has declined to 1.07% for the quarter from 1.41% in the similar quarter of the last year.

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