Andhra Bank Q1 net up 30% at Rs 40 cr

The bank has registered a 5.89% growth in overall business

Andhra Bank has reported a 30 per cent increase in net profit at Rs 40.32 crore for the quarter ended June 2017, largely helped by a fall in expenditure despite a growth in revenue. The net profit was Rs 31.09 crore in the same quarter previous financial year.

Total income for the bank grew 6.2 per cent at Rs 5,155.21 crore during the quarter under review helped by a steep rise in income from the treasury, as compared with Rs 4,855.50 crore in the year ago period.

The interest income grew only marginally (0.69 per cent) at Rs 4,402 crore as