Mumbai, May.7: The South India based PSU Bank, Andhra Bank has posted Rs 399.67 crore net profit for the last quarter of 2011-12.
The bank's net profit has increased to Rs 399.67 crore in the fourth quarter ended March 31, 2011. The net profit increased by 27.88% from the same period of last year.
The PSU lender had a net profit of Rs 312.78 crore in the same period last year, Andhra Bank said in a filing to the Bombay Stock Exchange (BSE).
The banks total income has improved by 21.26% in comparison with last year accumulated income. Total income of the bank increased to Rs 3,228.9 crore in the January-March quarter from 2,662.47 crore in the same period previous year.
For the year ended March 31, 2011, the bank's consolidated net profit grew to Rs 1,344.67 crore from Rs 1,267.78 crore in the similar period year-ago. In percentage terms banks net profit has grown by 8 % annually.
The PSU lender has successfully decreased net NPA to Rs755. 85 crore in March 2012 from Rs 943.27 crore in same time last year. It has increased Basel –I and II capital to 12.34 % and 13.08 % respectively.
The Board of Directors of the company has proposed a dividend of Rs 5.50 (55 per cent) per share for the year 2010-11, but it is the subject to approval by Government of India.
Shares of Andhra Bank was traded at Rs 111.00 at 1:00 PM on the BSE today.