Andhra Bank declares its fourth quarter results

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Andhra Bank declares its fourth quarter results
Andhra Bank Ltd. has posted its fourth quarter results ending March 2011 on 5 May 2011. 

The company has recorded increase in net profit by 30.18 per cent to Rs. 31,278.25 lakh in the quarter ended March 2011 from Rs. 24,026.45 lakh in the quarter ended March 2010. The increase in profit was driven by the rise in total income by 34.67 per cent, which has offset the increase in total expenditure.

The company recorded increase in total income to Rs. 266,247.46 lakh in the quarter ended March 2011 from Rs. 197,705.14 lakh in the corresponding quarter last year. Moreover, the other income increased by 11 per cent to Rs. 29,897.78 lakh from Rs. 26,910.52 lakh in the quarter ended March 2010.

Further, the total expenditure increased by 34.56 per cent to Rs. 195,097.14 lakh from Rs. 144,984.72 lakh in the quarter ended March 2010. The tax paid by the company rose by 50 per cent Rs. 9,600 lakh in the quarter ended March 2011 from Rs. 6,400 lakh.

The paid up equity share capital of the company stood at Rs. 55,958.04 lakh from Rs. 48,500 lakh in the corresponding quarter last year. At 03:29 PM, on BSE, shares of the company were trading at Rs. 134.15, down by 0.74 per cent against the previous close of Rs. 135.15.

The shares of the company reached the day's high at Rs. 136.95 and day's low at Rs. 131.95. However, the stock had touched the 52-weeks high of Rs. 190.15 on October 10, 2010 and 52 weeks low of Rs. 113.00 on May 7, 2010.

Read more about: andhra bank, bse, investment, bank
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