“The provisions have mainly gone up because of the restructured accounts. Major sector for which we have made provisions is telecom... It is for the entire banking industry. Even other banks also made substantial provisioning for telecom tower accounts," said Andhra Bank Chairman and Managing Director BA Prabhakar.
Net NPAs for the quarter were recorded at 1.21 per cent as against 0.47 per cent over the same period last year.
The bank had posted a net profit of Rs 330.91 crore in the October-December quarter last year, bank's name said in a filing to the Bombay Stock Exchange on February 2, 2012.
Besides, the bank's total income increased by 36.1 per cent to Rs 3,158.26 crore in Q3, 2011-12, as compared to Rs 2,320.20 crore in Q3, 2010-11.