Kolkata-based Allahabad Bank has posted a 24 per cent rise in net profit at Rs 210 crore in the quarter ended September 30, 2006, compared with Rs 168 crore in the corresponding period last year.
The total income rose by 19.16 per cent to Rs 1,267 crore from Rs 1,063 crore during the period under review. The spurt in net profit is owing to substantial increase in interest and fee-based income and a drop in operating expenses.
The treasury income has also shown positive growth, said S K Goel, executive director of Allahabad Bank.
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