Federal Bank jumps after robust Q4 numbers

Federal Bank rose 4.19% to Rs 101.85 at 12:10 IST on BSE after the net profit rose 163.13% to Rs 381.51 crore on 20.33% increase in total income to Rs 3,444.04 crore in Q4 March 2019 over Q4 March 2018.

The result was announced on Saturday, 4 May 2019.

Meanwhile, the S&P BSE Sensex was down 303.79 points, or 0.78% to 38,659.47.

On the BSE, 16.83 lakh shares were traded in the counter so far compared with average daily volumes of 4.50 lakh shares in the past two weeks. The stock had hit a high of Rs 102.45 and a low of Rs 98.45 so far during the day. The stock hit a 52-week high of Rs 105 on 9 May 2018. The stock hit a 52-week low of Rs 67.05 on 4 October 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 3,260.68 crore as on 31 March 2019 as against Rs 3,361.23 crore as on 31 December 2018 and Rs 2,795.62 crore as on 31 March 2018.

The ratio of gross NPAs to gross advances stood at 2.92% as on 31 March 2019 as against 3.14% as on 31 December 2018 and 3% as on 31 March 2018.

The ratio of net NPAs to net advances stood at 1.48% as on 31 March 2019 as against 1.72% as on 31 December 2018 and 1.69% as on 31 March 2018..

The bank's provisions and contingencies fell 52.15% to Rs 177.76 crore in Q4 March 2019 over Q4 March 2018.

Federal Bank is an Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India.

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