Andhra Bank Q4 net up 19 pc to Rs 240 cr

MUMBAI: Public sector lender Andhra Bank on Thursday said its net profit rose by 19.40 per cent to Rs 240.26 crore for the fourth quarter ended March 31, over the same period last fiscal. (Watch)

Total income of the bank rose to Rs 1,977.05 crore for the quarter ended March 31, compared to Rs 1,827.10 crore during the same period previous fiscal, Andhra Bank said in a filing to the Bombay Stock Exchange (BSE).

The bank posted a consolidated net profit of Rs 1,049.66 crore for the year ended March, 2010, compared to Rs 656.05 crore in the corresponding fiscal.

For the year ended March 31, the bank reported a consolidated total income of Rs 7,340.87 crore, compared to Rs 6,142.25 crore during the last fiscal.

The bank earned an interest of Rs 1,707.94 crore for the fourth quarter ended March 31, compared to Rs 1,506.70 crore in the same period previous fiscal.

For the year ended March, 2010, the bank earned an interest of Rs 6,372.86 crore.

The bank has recommended a dividend of 50 per cent, or Rs 5 per share for the financial year 2009-10.

Shares of Andhra Bank were trading at Rs 123.85 on BSE, up 2.44 per cent from its previous close.