 "Allahabad Bank Q4 profit falls 68.5% at Rs 126.15 cr")
New Delhi: State-owned Allahabad Bank today posted 68.5 percent decline in net profit at Rs 126.15 crore for the fourth quarter ended 31 March 2013 on account of rise in bad loans.
The bank had a net profit of Rs 400.22 crore in the same period last year, Allahabad Bank said in a filing to the BSE.[caption id=“attachment_759373” align=“alignleft” width=“380”] Falling profits. Andrew Middleton/Flickr[/caption]
Gross non-performing assets (NPAs), as a proportion of advances, increased to 3.92 percent at the end of March 2013, against 1.83 percent in the previous fiscal. Net NPAs also rose to 3.19 percent during the year from 0.98 percent at the end of March 2012.
Total income of the bank rose to Rs 4,776.90 crore in January-March quarter compared to Rs 4,523.38 crore in the same period previous fiscal.
The Kolkata-based bank proposed a dividend of 60 percent, or Rs 6, per share for 2012-2013.
For the entire fiscal ended 31 March 2013, the bank’s net profit declined 7 percent at Rs 1,185.21 crore, compared to Rs 1,866.78 crore in 2011-12.
Total income increased to Rs 18,912.60 crore during the year, compared to Rs 16,821.96 crore in the previous fiscal.
PTI
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