Andhra Bank reports 72% fall in Q4 net profit

Andhra Bank has reported results for the fourth quarter and year ended March 31, 2016.

The bank has posted a fall of 72.14% in its net profit at Rs 51.60 crore for the quarter ended March 31, 2016 as compared to Rs 185.24 crore for the same quarter in the previous year. However, total income of the bank has increased by 9.05% at Rs 5124.37 crore for quarter under review as compared to Rs 4699.16 crore for the quarter ended March 31, 2015.

For the year ended March 31, 2016, the bank has posted a fall of 15.44% in its net profit at Rs 539.84 crore as compared to Rs 638.44 crore for the same period in the previous year. However, total income of bank increased 7.45% at Rs 19199.16 crore for year under review as compared to Rs 17868.45 crore for the period ended March 31, 2015.