Andhra Bank Q1 net up 89.27% at Rs 202.52 cr

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New Delhi | Updated: July 25, 2015 3:37:14 PM

Andhra Bank today reported a 89.27 per cent jump in Net profit at Rs 202.52 crore for the first quarter ended June 30, 2015, on improved asset quality.

Andhra bank q1 profitAndhra Bank’s total income grew 7.70 per cent to Rs 4,529.23 crore during the quarter under review as against Rs 4,205.06 crore in the first quarter of the last fiscal, Andhra Bank said in a BSE filing. (PTI)

Andhra Bank today reported a 89.27 per cent jump in Net profit at Rs 202.52 crore for the first quarter ended June 30, 2015, on improved asset quality.

It had reported a Net profit of Rs 107 crore in the corresponding period of the previous fiscal.

The bank’s total income grew 7.70 per cent to Rs 4,529.23 crore during the quarter under review as against Rs 4,205.06 crore in the first quarter of the last fiscal, Andhra Bank said in a BSE filing.

The bank’s gross Non Performing Assets (NPA) stood at 5.75 per cent for the quarter ended June 30, 2015 compared with gross NPA of 5.98 per cent during the same period of 2014-15 fiscal.

Net NPA also declined to 2.99 per cent in the quarter under review against 3.89 per cent during the same quarter last fiscal.

The public sector bank said its provision coverage ratio stood at 61.33 per cent as on June 30, 2015.

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