Andhra Bank posts net profit of Rs 52 cr in Q1; total income grows 6.77%

The bank's total business grew 9.22 per cent at Rs 33,503 crore during the quarter

Andhra Bank has ended a series of loss making quarters with a small net profit of Rs 52 crore for the quarter ended June 2019 as compared with a net loss of Rs 540 crore in the corresponding first quarter of the previous financial year, helped by reduced provisioning and improved net interest margin during the quarter.

Total income of the bank for the quarter under review grew 6.77 per cent to Rs 5,437 crore as compared with Rs 5,092 crore in the corresponding previous quarter.

The bank's improved balance sheet for the quarter has come on the back of 35.67 per