Federal Bank reports Rs 266 cr net profit in Q2; gross non-performing assets rise to 3.11%
For the first half of the current fiscal, Federal Bank's net profit stood at Rs 528.75 crore, up from Rs 473.85 crore in the comparable period of 2017-18.
Mumbai: Federal Bank on Tuesday posted a marginal increase in net profit at Rs 266.04 crore for the quarter ending September on annual basis.
The bank had posted a net profit of Rs 263.7 crore during the July-September quarter of 2017-18, according to a regulatory filing by the company.
The bank's total income stood at Rs 3,087.81 crore during the second quarter of the current fiscal as against Rs 2,666.82 crore in the year ago period.
Federal Bank's gross non-performing assets (NPA) widened to 3.11 percent of its assets as against 2.39 percent in the second quarter of the last fiscal.
Net NPA too rose to 1.78 percent of its assets during September 2018 quarter. This compares with 1.32 percent in the year ago quarter.
For the first half of the current fiscal, bank's net profit stood at Rs 528.75 crore, up from Rs 473.85 crore in the comparable period of 2017-18.
Federal Bank shares closed up by 7.86 percent at Rs 81.65 on BSE after touching a high of Rs 82.80. The scrip witnessed a hectic activity in day trade as trading volume jumped 8.69 times to 56.25 lakh against its two-week average of 6.47 lakh.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
ICICI Bank posts loss of Rs 120 crore in Q1 on account of rise in bad loans; total income stands at Rs 18,574.17 crore
ICICI Bank's net profit on the consolidated basis for the June quarter was a meagre Rs 4.93 crore, compared to Rs 2,604.73 crore a year ago
Axis Bank posts net loss of Rs 2,189 cr in Q4 on higher bad loan provisioning as gross NPAs rise to 6.77%
For the entire fiscal 2017-18, the Axis Bank's a net profit fell by 92.5 percent to Rs 275.68 crore
The issue of impaired assets may be far from over for the banking system as gross non-performing assets have grown by 34.5 percent in the December quarter, says a Care report.