Federal Bank in spotlight after Q3 earnings

Federal Bank's net profit rose 26.43% to Rs 260.01 crore on 6.76% growth in total income to Rs 2729.83 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 15 January 2018.

The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 2.52% as on 31 December 2017 as against 2.39% as on 30 September 2017 and 2.77% as on 31 December 2016. The ratio of net NPAs to net advances stood at 1.36% as on 31 December 2017 as against 1.32% as on 30 September 2017 and 1.58% as on 31 December 2016.

The bank's provisions and contingencies rose 2.27% to Rs 162.43 crore in Q3 December 2017 over Q3 December 2016.

BSE said its board approved a buyback of up to 15.09 lakh shares at Rs 1,100 per share. The company will spend up to Rs 166 crore on buyback. The announcement was made after market hours yesterday, 15 January 2018.

Bharat Bijlee said it sold a small part of its factory land situated at Navi Mumbai to MIDC for Rs 46.79 crore. The announcement was made after market hours yesterday, 15 January 2018.

Vascon Engineers announced that it sold 68 units or 85% of the units in its new residential project 'Forest Edge' on the day of its launch. The project is located at Kharadi in Pune. Its first tower consists of 80 units. It was launched on the auspicious occasion of Makar Sankranti. The announcement was made after market hours yesterday, 15 January 2018.

Max Ventures and Industries approved raising up to Rs 450 crore via rights issue of shares. The announcement was made after market hours yesterday, 15 January 2018.

Seamec said it bagged contract worth $1.26 million from L&T Hydrocarbon Engineering for deployment of its vessel. The announcement was made after market hours yesterday, 15 January 2018.

IMP Powers said it entered into a license agreement for 20 years with Germany's Smart Hydro Power GmbH, establishing an exclusive right for manufacturing turbines under its own brand name in the license territory i.e. India, Laos, Nepal, Bhutan, Sri Lanka, Eastern Africa. Smart Hydro Power has chosen to give the exclusive rights of its proprietary products and technologies to IMP Powers. The announcement was made after market hours yesterday, 15 January 2018.

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