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Allahabad Bank Q2 net profit up by over 20%

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Press Trust of India Mumbai

State-owned Allahabad Bank today reported a 20.6 per cent rise in net profit at Rs 402.5 crore for the second quarter ended September 30, on the back of robust growth in net interest income.

It had a net profit of Rs 333.5 crore in the same quarter of the last fiscal, Allahabad (rpt) Allahabd Bank said in a filing to the Bombay Stock Exchange.

At the same time, Kolkata-based lender also reported 21.6 per cent rise in total income for the quarter at Rs 2,189.6 crore, against Rs 2,451.5 crore in the year-ago period.

The Net Interest Income (NII) of the bank rose by 60.6 per cent at Rs 969.2 crore against Rs 603.2 crore in the same quarter a year ago.

Further, the bank earned an interest of Rs 2,636.9 crore during the quarter, compared to Rs 2,046.6 crore during the same period last fiscal.

During the first half ended September 30, the bank clocked a 17.8 per cent rise in net profit to Rs 749.7 crore, compared to Rs 636.4 crore in the same period a year ago.

The bank reported a total income of Rs 5,683.3 crore in the first six months, compared to Rs 4,829.2 crore in the previous financial year.

Shares of Allahabad (rpt) Allahabad Bank were trading at Rs 238 on the BSE, up 6.9 per cent from previous close.

 

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First Published: Oct 21 2010 | 3:50 PM IST

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