Andhra Bank’s net profit increased 67.6 per cent to ₹57 crore in the quarter ended December 2016 from ₹34 crore in the corresponding quarter of the previous year.
However, the net interest income decreased 10.6 per cent to ₹1,218 crore (₹1,362 crore). The net interest margin also dropped, to 2.66 per cent from 3.24 per cent in the year-ago period. Gross NPAs (non-performing assets) increased to 11.88 per cent (7 per cent in the same period last year), and the net NPAs rose to 6.98 per cent (3.89 per cent).
Total deposits and advances grew 12.2 per cent and 4.5 per cent, respectively, even as total business went up to ₹3,32,630 crore (₹3,05,770 crore), the bank said in a release issued here on Thursday.