Federal Bank's third quarter net profit rises 28% to Rs 334 cr; lender's gross NPA increases to 3.14%

  • The total income of Federal Bank improved to Rs 3,299.96 crore during the third quarter

  • Gross non-performing assets rose to 3.14 percent of the total advances

  • Net NPAs of the bank also increased to 1.72 percent of the total assets in October-December 2018

New Delhi: Private sector lender Federal Bank on Thursday posted a 28.3 percent increase in net profit at Rs 333.63 crore for the third quarter ended 31 December, 2018.

The bank had recorded a net profit of Rs 260 crore in the corresponding quarter of the previous financial year.

The total income of the lender also improved to Rs 3,299.96 crore during the third quarter as against Rs 2,729.83 crore in the year-ago period, Federal Bank said in a regulatory filing.

Gross non-performing assets (NPAs) rose to 3.14 percent of the total advances during the quarter, compared with 2.52 percent at the end of the third quarter of 2017-18.

Net NPAs of the bank also increased to 1.72 percent of the total assets in October-December 2018, against 1.36 percent a year ago.

 

 

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Updated Date: Jan 17, 2019 18:18:11 IST