Allahabad Bank reports 50% fall in Q3 net profit

05 Feb 2015 Evaluate

Allahabad Bank has reported results for third quarter ended December 31, 2014.

The bank has registered a fall of 49.56% in its net profit at Rs 164.11 crore for the quarter under review as compared to Rs 325.36 crore for the same quarter in the previous year. However, total income of the bank increased marginally by 1.51% at Rs 5386.79 crore for Q3FY15 as compared Rs 5306.74 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) improved slightly to 5.46% in the October- December quarter as against 5.47% in the same quarter previous year, while net NPAs stood at 3.89%.

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