Andhra Bank has said that it has recorded an increase of 15 per cent in net profit to Rs 257.09 crore during the third quarter of the financial year.

The public sector had recorded a net profit of Rs 303.17 crore during the same quarter of the previous year. The total income of the bank increased from Rs 3,158.26 crore in the third quarter of 2011-2012 to Rs 3,469.21 crore during the third quarter of the current financial year. The bank also said that it made a provision of Rs 149 crore for non-performing assets (NPA) compared to just Rs 39 crore in the third quarter of the previous financial year.

The net NPAs of the bank increased from 1.21 per cent in the previous year to 2.29 per cnet of the total advances during the quarter from October to December, 2012. The net NPAs were recorded at Rs 2,023.32 crore in the quarter compared to Rs 943.27 crore recorded in the same quarter of the previous year.

During the first nine months of the financial year, the bank's net profit fell 6 per cent to Rs 944.55 crore from Rs 1,005 crore recorded in the previous year.