On Tuesday, private lender Federal Bank reported YoY 46.25 per cent increase in standalone profit at Rs 384.21 crore compared with the same quarter last year of Rs 262.71 crore.
In comparison to the year-ago quarter with Rs 980 crore, Net Interest Income (NII) for the quarter rose 17.8 per cent to Rs 1,154 crore. The bank made provisions worth Rs 192 crore in the June quarter compared with Rs 177 crore in March quarter.
Gross Non Performing Assets (NPAs) came in at 2.99 per cent for the June quarter, which was roughly the same as 3 per cent in the year-ago quarter, but privileged than 2.92 per cent in the March quarter.
Read EquityPandit’s Nifty Bank Outlook for the Week
Net NPA for the quarter came in at 1.49 per cent in the June quarter from 1.48 per cent in the March quarter and 1.72 per cent in the year-ago quarter.