Federal Bank profit falls 39% to Rs 63 cr

By: |
Kochi | January 13, 2016 12:10 AM

Net NPAs stood at 1.66% versus 1.33% in Q2 and 0.69% a year ago

Federal Bank has reported a 39% decline in its third quarter net profit at R162.7 crore, while  its gross NPA increased to 3.15 %. Total income decreased from Rs 2,090.01 crore for the quarter ended December 2014 to Rs 2086.07 crore for the quarter ended December, 2015.

The bank had reported a net profit of Rs 264.69 crore for the corresponding quarter of last financial year and a net profit of R161. 28 in the second quarter of the current fiscal.

On the operating front, net interest income for the bank rose marginally by 3.1% year-on-year, while non-interest income saw a decline of 16.6% year-on-year.

Asset quality woes continued with the reported Gross NPA ratio at 3.15% in the current quarter as against 2.90% in the second quarter and 2.19% in the corresponding quarter of last fiscal.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1CSB Bank net soars 72% on lower provisioning
2CSB Bank posts 72% rise in Q2 net profit at Rs 118 crore
3Gold loans turn fastest-growing segment as banks lean on safety