Allahabad Bank, the public sector lender, today reported a rise of 28.45% in net profit to Rs 2.03 billion for the quarter ended Mar. 31, 2015 as compared to Rs 1.58 billion in the same period last year.

Total income increased by 2.92% to Rs 53.91 billion for the quarter ended Mar. 31, 2015 as compared to Rs 52.38 billion in the same period last year.

The bank has made provision of Rs 6.31 billion, which was lower by 1.28% from prior year period to Rs 6.39 billion.

Net NPA was at Rs 59.79 billion for the quarter ended Mar. 31, 2015, as compared to Rs 57.22 billion in the same period last year, representing a decline of 25.89%. In percentage term, net NPAs were at 3.99 % at the end of the quarter, lower than 4.15% from last year period.

Capital adequacy ratio (CAR) of the bank under Basel III was at 10.451% as on Mar. 31, 2015.

Shares of the bank gained Rs 2.3, or 2.32%, to trade at  Rs 101.45.  The total volume of shares traded  was  433,424 at the BSE (1.29 p.m., Friday).