Federal Bank Q1 profit jumps 46% YoY to Rs 384 crore

NEW DELHI: Private lender Federal Bank on Tuesday reported a 46.25 per cent year-on-year (YoY) rise in standalone profit at Rs 384.21 crore compared with Rs 262.71 crore in the same quarter last year.

Net interest income (NII) for the quarter rose 17.8 per cent to Rs 1,154 crore compared with Rs 980 crore in the year-ago quarter.

The bank made provisions worth Rs 192 crore in the June quarter compared with Rs 177 crore in March quarter.


Gross non-performing assets (NPAs) came in at 2.99 per cent for the June quarter, which was almost the same as 3 per cent in the year-ago quarter, but higher than 2.92 per cent in the March quarter.

Net NPA for the quarter came in at 1.49 per cent in the June quarter from 1.48 per cent in the March quarter and 1.72 per cent in the year-ago quarter.