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Andhra Bank reports 78% fall in Q2 net profit

13 Nov 2013 Evaluate

Andhra Bank has reported results for second quarter ended September 30, 2013.

The bank has reported a fall of 78.30% in its net profit at Rs 70.65 crore for the quarter ended September 30, 2013 as compared to Rs 325.63 crore for the same quarter in the previous year. However, total income of the bank increased by 11.74% at Rs 3817.57 crore for quarter under review as compared to Rs 3416.55 crore for the quarter ended September 30, 2012.

Gross non-performing assets (NPAs) increased to 5.15% in the July-September quarter as against 3.48% in the same quarter previous year, while net NPAs has increased to 3.54%.

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