Allahabad Bank has announced that it has clocked a net profit of Rs 302.86 crore during the three month period ended June 30, 2009.

In a filing to Bombay Stock Exchange (BSE), the bank said that it had reported a net profit of Rs 93.36 crore during the corresponding quarter of previous fiscal 2007-08.

The public sector bank has attributed the jump in net profit to improved treasury operations.

During the quarter under review, bank's total income has surged to Rs 2377.69 crore from Rs 1849.63 crore in the same period year ago.

Bank's net interest margin (NIM) during the latest quarter stood at 3% compared to 2.60% in the corresponding period last fiscal.

Bank authorities stated in a communiqué that deposits of the bank surged to Rs 89,401 crore as compared to Rs 73,207 crore and advances to Rs 61,002 crore.