Andhra Bank Q4 profit jumps over twofold to Rs 185 crore

State-run Andhra Bank today reported more than twofold jump in its net profit at Rs 185.24 crore for the fourth quarter ended March 31 on rise in interest income and drop in non-performing assets.
The public sector bank had posted a net profit of Rs 88.08 crore in the same period last financial year, it said in a filing to the BSE.
The bank's total income during the period rose to Rs 4,699.16 crore from Rs 4,057.89 crore in the last fiscal.
The income from investments stood at Rs 838.95 crore against Rs 840.27 crore in the same period last year. The interest on inter bank funds jumped to Rs 15.90 crore compared with Rs 9.52 crore in March quarter of 2014-15.

The non-performing assets or NPAs during the quarter were down to 2.93 per cent from 3.11 per cent last year.
Andhra Bank reported an annual net profit of Rs 638.44 crore compared with Rs 435.58 crore in the last fiscal year.
Total income of the company during the fiscal was Rs 17,868.45 crore from Rs 15,630.16 crore last fiscal.
Shares of Andhra Bank were trading at Rs 77.95, up 4 per cent on the BSE.