Andhra Bank has reported better performance in the first quarter of FY12 than expected by the street. Net profit jumped 20.6% to Rs 386 crore in Q1 against Rs 320 crore in the corresponding quarter of last fiscal year.
Net interest income went up nearly 24% to Rs 911 crore from Rs 736 crore year-on-year.
However, provisions in the April-June quarter was Rs 177 crore, a 240% rise over Rs 52 crore in the year ago period.
CNBC-TV18 poll saw a net profit of Rs 298 crore and net interest income of Rs 841 crore.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP consultants Pvt Ltd
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