Andhra Bank Net Up 17 Pc In 1267 Cr In FY11

Andhra Bank net profit rose by 17 per cent to Rs 1,267.8 crore for the year ended March 31, 2011, compared to Rs 1,049.67 crore during the previous financial year. Increased revenue at Rs 7,340.6 crore for the year ended March 31, 2010 R 9,188.6 crore for the year ended March 31, 2011, an increase of 20 percent.

the independent bank's net profit for the quarter ended March 31, 2011 was Rs.312.78 crore, up 15 percent over the network of Rs.240.26 crore reported for the same period last year. Total revenue rose 2 Rs 662.47 million rupees Rs.1, 977.05 million rupees in the previous quarter, an increase of 26 percent.

The bank board has recommended a final dividend of Rs.5.50 (55 percent) per share for 2011.