Andhra Bank Q4 net profit declines 32.7%

NEW DELHI: Shree Cement today reported a standalone net profit at Rs 304.51 crore for the fourth quarter ended March 31, 2017.The company had posted a net profit of Rs 663.03 crore during the same period of last fiscal, Shree Cement said in a BSE filing.Total income during the quarter under review stood at Rs 2,834.44 crore. The dividend is subject to approval of the members at the ensuing AGM.Shares of the company ended 1.45 per cent down at Rs 19,945.25 on BSE. It was Rs 2,724.33 crore in the January-March quarter of 2015-16.The company said the results are not comparable as it adopted change in its accounting year from 2015-16 fiscal. "Accordingly, the said financial year of the company was of a nine month period from July 1, 2015 to March 31, 2016," it added.The company said its board has recommended final dividend of Rs 24 per equity share of Rs 10 each for FY17.


as informed in

Andhra Bank Q4 net profit declines 32.7%

more-inAndhra Bank's net profit fell 32.7% to ₹35 crore in the quarter ended March on the back of a 24.7% increase in the provisioning to ₹1,399 crore. For the full financial year 2016-17, the public sector lender's net profit declined by 67.8% to ₹174 crore. Total income at ₹5,425 crore was 5.9% more, while the operating profit of ₹1,434 crore and net interest income of ₹1,685 crore were 22.3% and 12.3% higher. Operating profit for the fiscal went up 10.8% to ₹4,388 crore. Net interest income increased 3.9% to ₹5,532 crore.




Get instant notifications from Economic TimesAllowNot nowYou can switch off notifications anytime using browser settings. Never miss a great news story!


read more visit us profit

collected by :Jack Luxor