Moneycontrol News
Allahabad Bank on Tuesday reported a net loss of Rs 1,822.7 crore for the September quarter. The lender had posted a profit of Rs 70.2 crore during the same quarter of last year.
It reported a fall of 8 percent year on year in its net interest income to Rs 1,150.5 crore against Rs 1,254.5 crore.
Asset quality for the bank saw some further deterioration as gross NPA ratio rose to 17.53 percent from 15.97 percent in the previous quarter. The net NPA ratio rose to 7.96 percent from 7.32 percent during the June quarter.
On an absolute basis, the gross NPA rose to Rs 27,236 crore during the quarter against Rs 25,068 crore during June. Meanwhile, the net NPA also creeped up to Rs 11,083 crore against Rs 10,410 crore last quarter.
The provisions stood at Rs 2,356 crore from Rs 2,736 crore last quarter.
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