Federal Bank on Friday reported a net profit of Rs 167.31 crore for the first quarter of the current fiscal, up 18.33% Y-o-Y from Rs 141.39 crore in the year-ago period.
Kerala-based bank’s net interest income grew 14.45% on a Y-o-Y basis to Rs 692.17 crore from Rs 604.76 crore during the corresponding quarter last year. The net interest margin as on June 30 stood at 3.28%.
Gross NPAs at the end of the quarter stood at Rs 1,747.31 crore against Rs 1304.58 crore a year ago. Gross NPAs as percentage to gross advances came to 2.92%. The net NPA stood at Rs 994.50 crore, was at 1.68% as percentage to net advances.
The operating profit of the bank stood at Rs 425.86 crore during the quarter under review, up from Rs 367.21 crore as at the end of Q1 of FY16. While net total income grew 16.40% Y-o-Y to Rs 929.72 crore, other incomes were up 22.48% to Rs 237.54 crore from Rs 193.94 crore.
The total business registered a Y-o-Y growth of 15.25% to Rs 140,249.79 crore. While total deposits increased 12.47% to reach Rs 81,132.11 crore, total advances grew 19.30% to Rs 59,117.68 crore.