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Andhra Bank has reported a dismal set of results for the quarter ending Sept 30, 2013 with net profits falling to Rs 70.60 crores for the quarter ended September 30, 2013 as compared to Rs 325.63 crores for the quarter ended September 30, 2012.
Total Income has increased from Rs 3416.55 crores for the quarter ended September 30, 2012 to Rs. 3817.57 crores for the quarter ended September 30, 2013.
Gross non performing assets at the bank have gone up to 5.13 per cent from 4.73 per cent. Net non performing assets have also risen to 3.54 per cent.
The stock of Andhra Bank dropped sharply and was down more then 5 per cent in trade.
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