Allahabad Bank has reported a net profit of Rs 560 crore in the third quarter of FY12, a massive jump of 34.6% as compared to Rs 416 crore in a year ago quarter.
Net interest income jumped 31.3% to Rs 1,381 crore from Rs 1,051.6 crore year-on-year.
Gross non-performing assets (NPAs) increased at 1.86% versus 1.77% quarter-on-quarter. Gross NPAs stood at Rs 1,887 crore in the October-December quarter of FY12 as against Rs 1,715 crore in previous quarter.
Allahabad Bank has made provisions of Rs 421 crore, more than 78% higher as compared to Rs 236 crore in a year ago quarter and 2% higher as against Rs 412 crore in the previous quarter.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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