Allahabad Bank reports 28% rise in Q4 net profit

Allahabad Bank has reported result for the fourth quarter and year ended March 31, 2015. The bank has posted a rise of 28.45% in its net profit at Rs 202.63 crore for the quarter ended March 31, 2015 as compared to Rs 157.75 crore for the same quarter in the previous year. Total income of the bank has increased by 2.92% at Rs 5390.71 crore for quarter under review as compared to Rs 5237.68 crore for the quarter ended March 31, 2014. For the year ended March 31, 2015, the bank has posted a fall of 47.02% in its net profit at Rs 620.90 crore as compared to Rs 1172.02 crore for the same period in the previous year. However, total income of the bank has increased by 3.82% at Rs 21712.13 crore for year under review as compared to Rs 20912.43 crore for the period ended March 31, 2014. For the year ended March 31, 2015, on the consolidated basis, the bank has posted a fall of 45.38% in its net profit after tax at Rs 649.02 crore as compared to Rs 1188.43 crore for the same period in the previous year. However, total income of bank has increased by 3.96% at Rs 21891.53 crore for year under review as compared to Rs 21057.48 crore for the period ended March 31, 2014.