Federal Bank inches up after good Q1 outcome

Federal Bank rose 0.53% to Rs 411.50 at 11:40 IST on BSE after net profit jumped 30.23% to Rs 190.35 crore on 21.99% growth in total income to Rs 1661.04 crore in Q1 June 2012 over Q1 June 2011.

The private sector bank announced the results during trading hours today, 2 August 2012.

Meanwhile, the BSE Sensex was down 92.58 points or 0.54% to 17,164.80.

On BSE, 58,000 shares were traded in the counter as against average daily volume of 41,907 shares in the past one quarter.

The stock hit a high of Rs 414.65 and low of Rs 404.70 so far during the day. The stock hit a 52-high of Rs 480 on 14 February 2012. The stock had hit a 52-week low of Rs 322.10 on 28 December 2011.

The mid-cap stock had underperformed the market over the past one month till 1 August 2012, falling 8.7% compared with the Sensex's 0.99% fall. The scrip had also underperformed the market in past one quarter, declining 2.49% as against Sensex's 0.35% fall.

The private sector bank has an equity capital of Rs 171.05 crore. Face value per share is Rs 10.

Federal Bank's Capital Adequacy Ratio (CAR) (as per Basel II norms) stood at 15.45% as on 30 June 2012, lower than 16.64% as on 31 March 2012 and 15.57% as on 30 June 2011. The bank's gross non-performing assets (NPA) ratio stood at 3.6% of gross advances as on 30 June 2012, higher than 3.35% as on 31 March 2012 but lower than 3.94% as on 30 June 2011. The net NPA ratio was at 0.62% of net advances as on 30 June 2012, higher than 0.53% as on 31 March 2012 but lower than 0.74% as on 30 June 2011.

Federal Bank's provisions and contingencies declined 53.15% to Rs 62.78 crore in Q1 June 2012 over Q1 June 2011.

Federal Bank is a Kochi-based private sector bank.

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