Net profit was at Rs 215.10 crore during the same period of previous fiscal.
Total income rose 11.58 per cent to Rs 1,857.84 crore against Rs 1,665 crore reported in same period last fiscal.
Net interest income or core income grew 8.39 per cent to Rs 548.35 crore during the period.
Meanwhile, the bank showed improvement in the asset quality front with gross NPA ratio improving to 3.39 per cent from 3.83 per cent.
However, net NPAs increased to 0.98 per cent from 0.68 reported during the same period a year earlier.
As per the bank, fresh slippages during last quarter stood at Rs 151 crore with a restructuring of Rs 214 crore.
"We have no more pipeline of restructuring as of now," Managing Director and Chief Executive Shyam Srinivasan told reporters in a conference call from Kochi today.
Net interest margin stood at 3.30 per cent. "We hope to maintain NIM at the current level in the future," Srinivasan said.
On the deposit front, the bank said it has increased 14.69 per cent to Rs 56,793.74 crore by the end of the September quarter with sound uptick in NRI deposits. The cheap cost deposit base or CASA improved to 30.72 per cent by the end of September quarter.
Similarly, advances grew by 16.31 per cent to Rs 42,220 crore with sound growth in retail and SME credit.
Srinivasan also said the private sector lender has already raised around USD 70 million through the forex swap window opened by RBI last month and is likely to raise another USD 30-40 million by November end.
Federal Bank has a capital adequacy ratio of 15.35 per cent with a tier-I capital of 14.64 per cent for the period ending September.
Despite tepid numbers, the market lapped up the stock by 10 per cent to Rs 78.40 on the BSE, which closed flat with a positive bias.