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Andhra Bank reports 36% fall in Q1 net profit

31 Jul 2013 Evaluate

Andhra Bank has reported results for first quarter ended June 30, 2013.

The bank has reported a decline of 36.08% in its net profit at Rs 231.28 crore for the quarter, as compared to Rs 361.83 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 15.10% to Rs 3864.16 crore for the quarter under review as compared to Rs 3357.22 crore for the quarter ended June 30, 2012.

Gross non-performing assets (NPAs) increased to 4.73% in the April-June quarter as against 2.72% in the same quarter previous year while, net NPAs surged to 3.27%.

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