Andhra Bank, the public sector lender, today reported a sharp rise of 2.04 times in second quarter profit. The bank reported a profit of Rs 1,444.9 million for the quarter ended Sept. 30, 2014, compared with Rs 706.5 million, a year ago.

Quarterly income totalled at Rs 44.24 billion, an increase of 15.88% over Rs 38.18 billion in the same period a year ago.

The bank has made provision of Rs 4.91 billion, which was lower by 2.13% from prior year period to Rs 5.02 billion.

Net NPA was at 43.16 billion for the quarter ended Sept. 30, 2014, as compared to Rs 34.77 billion in the same period last year, representing an increase of 24.11%.

In percentage term, net NPAs were at 3.86% at the end of the quarter higher than 3.54% from last year period.

Capital adequacy ratio (CAR) of the bank under Basel III was at 10.22% as on Sept. 30, 2014.

Shares of the bank gained Rs 5, or 6.53%, to trade at Rs 81.60. The total volume of shares traded was 1,641,273 at the BSE (3.10 p.m., Thursday).