Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

Andhra Bank Q2 Net Loss Widens to Rs 434 Crore

On a sequential basis, however, its net loss narrowed from Rs 539.83 crore loss in the first quarter ended June of the current fiscal.

PTI

Updated:November 3, 2018, 10:10 PM IST
facebookTwitterskypewhatsapp
Andhra Bank Q2 Net Loss Widens to Rs 434 Crore
Image for representation
Loading...

New Delhi: State-owned Andhra Bank on Saturday reported widening of its net loss to Rs 434.10 crore in second quarter which ended September.

It had posted a net loss of Rs 385.11 crore during the July-September period of the previous fiscal.

On a sequential basis, however, its net loss narrowed from Rs 539.83 crore loss in the first quarter ended June of the current fiscal.

In the fiscal ended March 2018, the bank had posted a net loss of Rs 3,412.53 crore due to mounting bad loans.

Total income during the second quarter of 2018-19 rose to Rs 5,249.32 crore as against Rs 5,005.34 crore in the same quarter of 2017-18, Andhra Bank said in a regulatory filing.

Bank's asset quality witnessed a deterioration year-on-year as gross non-performing assets (NPAs) soared to 16.36 per cent of gross advances by end of September quarter 2018 as against 13.27 per cent by the same period of 2017. However, it improved a little when compared with 16.69 per cent by end of June quarter.

Net NPAs, however, showed a slight correction at 7.49 per cent of net loans as at end of September from 7.55 per cent a year ago. In the first quarter ended June, net NPAs stood at 7.96 per cent.

In absolute value, gross bad loans or NPAs stood at Rs 27,623.01 crore by September 2018 as against Rs 19,838.58 crore by September 2017. Net NPAs were Rs 11,427.62 crore as compared to Rs 10,573.60 crore.

However, its provisioning for bad loans came down to Rs 1,155.15 crore during the quarter under review from Rs 1,585.88 crore a year ago. Overall provisioning including for contingencies stood at Rs 1,561.73 crore against Rs 1,668.06 crore.

The provision coverage ratio stood at 65.47 per cent as on September 30, 2018. Andhra Bank said it received Rs 2,019 crore as government capital infusion on July 23 in lieu of preferential allotment of shares.

| Edited by: Padmaja Venkataraman
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Axis Bank 800.45 1.50
Reliance 1,274.15 -1.55
HDFC Bank 2,462.30 -0.23
SBI 362.15 1.12
Indiabulls Hsg 627.45 2.48
Company Price Change %Gain
Shriram Trans 1,100.55 0.05
Liquid Bees 1,000.00 0.00
Embassy Office 370.00 0.00
Indiabulls Hsg 627.40 2.51
Asian Paints 1,362.00 0.15
Top Gainers
Company Price Change %Gain
Tata Motors 165.85 2.95
Indiabulls Hsg 627.45 2.48
M&M 657.90 2.24
ONGC 170.60 1.82
Eicher Motors 19,479.30 1.71
Company Price Change %Gain
Tata Motors 165.85 2.95
M&M 658.50 2.37
ONGC 169.90 1.46
Axis Bank 800.35 1.44
HDFC 2,194.45 1.22
Top Losers
Company Price Change %Gain
Tech Mahindra 701.95 -2.25
Adani Ports 406.50 -2.04
UPL 943.50 -1.56
Reliance 1,274.15 -1.55
HCL Tech 1,062.75 -1.48
Company Price Change %Gain
Reliance 1,274.85 -1.52
HCL Tech 1,064.00 -1.52
ITC 273.55 -1.37
Infosys 736.70 -0.40
Power Grid Corp 207.55 -1.10

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results