Andhra Bank Oct-Dec net jumps over 4-fold at Rs 202 crore

Total income has increased to Rs 4,540.61 crore for the quarter ended December 31, 2014

Andhra Bank has registered a more than four-fold jump in its net profit at Rs 201.71 crore in the third quarter ended December 2014, on higher interest income.

Bank's net profit stood at Rs 45.57 crore in the same October-December quarter of 2013-14.

"Total income has increased from Rs 3,900.54 crore for the quarter ended December 31, 2013 to Rs 4,540.61 crore for the quarter ended December 31, 2014," the bank said in a filing to the BSE.

Interest income of the bank rose to Rs 4,150.34 crore in Q3-FY15, from Rs 3,597.64 crore in the corresponding third quarter of the previous fiscal.

Bank's provisions towards bad loans were kept at Rs 541.52 crore during the quarter under review, up from Rs 428 crore in the year ago period.

Gross Non-Performing Assets (NPAs) or the bad loans were at 5.99 per cent of the advances as of December 31, 2014 from 5.55 per cent in December 31, 2013.

Net NPAs stood at 3.7 per cent in October-December 2014-15, from 3.65 per cent in the same quarter year ago.

Andhra Bank scrips traded at Rs 89.45 a piece on the BSE, down 0.78 per cent from previous close.