 "Federal Bank's Q2 net profit rises 0.9% on higher interest income")
India's Federal Bank Ltd posted a 0.9 per cent rise in second-quarter net profit on Tuesday, helped by higher interest income.
Net profit was Rs 2.66 billion ($36.08 million) in the quarter ended September 30, compared with Rs 2.64 billion a year earlier, the mid-sized private-sector lender said.
Eleven analysts, on average, had expected a net profit of Rs 2.14 billion, according to I/B/E/S data from Refinitiv.
Gross bad loans as a percentage of total loans stood at 3.11 per cent at September-end, compared with 3 per cent in the previous quarter and 2.39 per cent a year earlier.
Interest earned rose 16.2 per cent to Rs 27.65 billion.
The bank's shares rose as much as 7.5 per cent after the results.
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