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Andhra Bank’s net profit rose 30 per cent to ₹40 crore in the first quarter ended June 30, compared with ₹31 crore earned in the corresponding quarter of the previous year.
Total income increased 6 per cent to ₹5,155 crore (₹4,855 crore in the year-ago period) while net interest income grew 13.55 per cent to ₹1,441 crore (₹1,269 crore), Andhra Bank said in a release issued here. Non-interest income rose 55.6 per cent to ₹753 crore (₹484 crore).
On the asset quality front, the bank’s gross non-performing assets (GNPAs) increased to 13.22 per cent (10.30 per cent in Q1 FY17), and net NPA to 8.09 per cent (6.21 per cent).
Net interest margin rose to 3.12 per cent (2.90 per cent).
The Andhra Bank scrip gained 1.91 per cent to end at ₹56.05 on the BSE on Friday.
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