Allahabad Bank Q1 net profit up 20.5% at Rs 418 cr

Allahabad Bank has reported a 20.5% rise in its first quarter FY12 net profit to Rs 418 crore against Rs 347 crore in the year ago period.

Net interest income jumped over 38% to Rs 1,176 crore from Rs 850 crore year-on-year.

Gross non-performing asset (NPA) increased 1.62% against 1.5% during the same period.

Net NPA too moved up 0.6% versus 0.4%. Provisions increased 112% to Rs 320 crore from Rs 151 crore year-on-year.

Source: www.moneycontrol.com

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Gaurav Agarwal
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DENIP Consultants Pvt Ltd