The Andhra Pradesh State Financial Corporation (APSFC) earned a net profit of Rs 67.68 crore for the financial year ending March 2010, as compared with Rs 42.85 crore in the previous year, a growth of 58 per cent.
The corporation’s sanctions registered a growth of 18.82 per cent from Rs 885.67 crore in the previous year to Rs 1,052.28 crore in the year under report. It disbursed Rs 707.99 crore as compared with Rs 685.70 crore in the previous year, up 3.25 per cent.
Recoveries grew 19.30 per cent to Rs 758.12 crore, from Rs 658.08 crore in the previous year. Despite the increasing trend of non-performing assets (NPAs) in general due to spill over effects of the recession witnessed in the previous year, APSFC could reduce the net NPAs to 5.53 per cent from 5.99 per cent last year, the corporation said in a press release.