Andhra Bank FY05 net up 13%

Andhra Bank today reported a 13.52% increase in consolidated net profit at Rs 521.23 crore for the year ended March 31, 2005 as against Rs 459.12 crore in FY04.

According to a release issued by the bank to the BSE today, total consolidated income increased to Rs 3,028.6 7crore for the year ended March 31, 2005 from Rs 2,911.82 crore in FY04.

The consolidated numbers include figures of one subsidiary - Andhra Bank Financial Services, the release added.

The bank, on a stand-alone basis, has posted a net profit of Rs 138.77 crore for the fourth quarter ended March 31, 2005 as against Rs 114.30 crore in Q4FY04. Total income increased to Rs 736.70 crore in Q4FY05 from Rs 712.02 crore in Q4FY04.

The bank has posted a net profit of Rs 520.10 crore in FY05 as against Rs 463.50 crore in FY04. Total income increased to Rs 3,026.81 crore in FY05 from Rs 2,905.31 crore in FY04.

The board has cleared a dividend of 15% for FY05, the release added.