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Aug 06, 2012, 05.01 PM IST

Andhra Bank Q1 net profit down 6% to Rs 362 cr

Public sector lender Andhra Bank's net profit went down by 6% year-on-year to Rs 362 crore in the quarter ended June 2012 due to rising non-performing assets (NPAs) and higher provisions.

Source: Moneycontrol.com
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Public sector lender Andhra Bank 's net profit went down by 6% year-on-year to Rs 362 crore in the quarter ended June 2012 due to rising non-performing assets (NPAs) and higher provisions.


Net interest income rose by just 3% to Rs 938.5 crore from Rs 910.6 crore during the same period.


Gross NPAs went up by 60 basis points QoQ to 2.72% and net NPAs increased 61 basis points QoQ to 1.52% in the first quarter of financial year 2012-13.


Provisions were moved up to Rs 206.5 crore from Rs 177 crore YoY.
 
Capital adequacy ratio declined 50 basis points to 12.68% in the April-June quarter as against 13.18% in the January-March quarter of 2012.


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