Andhra Bank has posted a standalone net profit of ₹162.80 crore for the quarter ended December 2019.
In the corresponding period of previous fiscal, it had reported a loss of ₹578.59 crore. The net profit during the quarter came on the back of a 5% increase in the total income to ₹5,595.19 crore (₹5,322.33 crore).
The gross non-performing assets (NPAs) during the quarter was 17.26% as against 16.68% in the year earlier period. The Net NPA were lower at 6.36% in comparison to the year earlier period’s 6.99%. The interest earned increased to ₹4,937.19 crore (₹4,796.65 crore). Other income were higher at ₹658 crore (₹525.68 crore).
On a consolidated basis, the net profit during the third quarter of this fiscal was ₹174.76 crore. The bank had reported a loss of ₹573.52 crore in the corresponding period of previous fiscal. Total income increased to ₹5,919.14 crore (₹5,609.43 crore).
The Provision Coverage Ratio as on December 31 was 73.62%, the bank said
.jpeg)
No comments:
Post a Comment