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Kolkata-based Allahabad Bank reported a near 49 per cent dip in net profit to Rs. 141 crore for the period ending September 30, 2014.
Profit for the corresponding period last fiscal stood at Rs. 276 crore.
During the period, the bank, however, reported a marginal increase in both total income and interest earnings.
Total income for the second quarter stood at Rs. 5,417 crore, an increase of mere 2 per cent (over Rs. 5,303 crore it reported last fiscal).
Interest earnings moved up by 6 per cent to Rs. 4,901 crore ( as against Rs. 4,607 crore last year) for the period between July and September.
Asset Quality
The bank, meanwhile, saw an approximate 16 per cent rise in gross non-performing assets (NPAs) to Rs. 7,674 crore for the period ending September 30, 2014. Gross NPAs for the corresponding period last year stood at Rs. 6,613 crore.
Gross NPA per cent during the period rose to 5.36; as against 4.94 in the year ago period.
Net NPAs in Q2 of FY-15, however, saw a marginal decline of 2 per cent to Rs. 4,948 crore (as against Rs. 5,048 crore last year).
As a result, net NPA per cent during the period improved to 3.54; from 3.83 from the year-ago period.
At 2.15 pm shares of Allahabad Bank were trading at Rs. 111.40, up by 4.26 per cent at the BSE on Thursday.
Source : The Hindu
Profit for the corresponding period last fiscal stood at Rs. 276 crore.
During the period, the bank, however, reported a marginal increase in both total income and interest earnings.
Total income for the second quarter stood at Rs. 5,417 crore, an increase of mere 2 per cent (over Rs. 5,303 crore it reported last fiscal).
Interest earnings moved up by 6 per cent to Rs. 4,901 crore ( as against Rs. 4,607 crore last year) for the period between July and September.
Asset Quality
The bank, meanwhile, saw an approximate 16 per cent rise in gross non-performing assets (NPAs) to Rs. 7,674 crore for the period ending September 30, 2014. Gross NPAs for the corresponding period last year stood at Rs. 6,613 crore.
Gross NPA per cent during the period rose to 5.36; as against 4.94 in the year ago period.
Net NPAs in Q2 of FY-15, however, saw a marginal decline of 2 per cent to Rs. 4,948 crore (as against Rs. 5,048 crore last year).
As a result, net NPA per cent during the period improved to 3.54; from 3.83 from the year-ago period.
At 2.15 pm shares of Allahabad Bank were trading at Rs. 111.40, up by 4.26 per cent at the BSE on Thursday.
Source : The Hindu
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