Federal Bank slips 8%... FY09 net up 31%

The stock touched a low of Rs 226 and finally end down 8% at Rs 228. The counter witnessed heavy trading volumes of 1.08 million shares as against the two-week daily traded average of 356,36 shares on the BSE today.
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(Updated at 1342 hrs)

Federal Bank had zoomed to its 52-week high of Rs 262 this morning. Profit-taking at higher levels saw the stock slip into red to a low of Rs 237 - down 11% from the day's high.

The stock is currently trading at Rs 241, down over 3%. The counter has clocked heavy volumes of around 622,319 shares as against its two-week average daily traded volume of around 356,336 shares on the BSE.

Federal Bank has posted a 31% rise in its yearly consolidated net profit at Rs 472.01 crore for the financial year ended March 31, 2009 as compared to Rs 360.07 crore last year.

Total income increased from Rs 2,910.16 crore for the year ended March 31, 2008 to Rs 3,831.39 crore for the year ended March 31, 2009.

During the last quarter of the aforesaid financial year, total net profit of the bank was recorded 11% growth at Rs 114.17 crore for the quarter ended March 31, 2009 as compared to Rs 102.86 crore for the quarter ended March 31, 2008. Total income increased from Rs 841.79 crore to Rs 1016.28 crore during the quarter under consideration.