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Andhra Bank’s net profit decreased significantly to Rs 71 crore in the second quarter ended September 30, 2013, against Rs 326 crore in the corresponding quarter of the previous year on higher provisions.
The total income of the Hyderabad-based bank, however, increased to Rs 3,817 crore from Rs 3,416 crore in the same period last year.
The provisions (other than tax) and contingencies increased to Rs 502 crore (Rs 139 crore) while the net non-performing assets had gone up to 3.54 per cent (2.16 per cent).
The earnings per share stood at Rs 1.26 (Rs 5.82), the Bombay Stock Exchange was informed on Wednesday.
Andhra Bank’s scrip lost 4.90 per cent on the Bombay Stock Exchange on Friday and was trading at Rs 59.25 after the lunch hour.
naga.gunturi@thehindu.co.in
Source: thehindubusinessline
The total income of the Hyderabad-based bank, however, increased to Rs 3,817 crore from Rs 3,416 crore in the same period last year.
The provisions (other than tax) and contingencies increased to Rs 502 crore (Rs 139 crore) while the net non-performing assets had gone up to 3.54 per cent (2.16 per cent).
The earnings per share stood at Rs 1.26 (Rs 5.82), the Bombay Stock Exchange was informed on Wednesday.
Andhra Bank’s scrip lost 4.90 per cent on the Bombay Stock Exchange on Friday and was trading at Rs 59.25 after the lunch hour.
naga.gunturi@thehindu.co.in
Source: thehindubusinessline
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