Riding on the back of a higher net interest income, Allahabad Bank posted about 20 per cent growth in net profit at Rs 418 crore for the quarter ended June 30, 2011, against Rs 347 crore during the corresponding period last year.
The net interest income increased 38 per cent to Rs 1,176 crore (Rs 850 crore). Fee-based income also grew about 22 per cent to Rs 207 crore.
Shares of Allahabad Bank rose 4.41 per cent to close at Rs 218.05 on the BSE today.