Federal Bank reported 23% fall in net profit to Rs 367 crore on a 5% increase in total income 4,006 crore in Q1 FY22 over Q1 FY21.
Net interest income (NII) remained flat at Rs 1,418 crore in the first quarter as compared with Rs 1,420 crore in the same period last year. Net interest margin (NIM) was at 3.15% as on 30 June 2021 as against 3.23% as on 30 June 2020.
Operating profit jumped 28% to Rs 1,135 crore in Q1 FY22 from Rs 885 crore in Q1 FY21.
Total provisions increased by 89% to Rs 768 crore in Q1 FY22 from Rs 407 crore in Q1 FY21.
The bank's gross non-performing assets (NPAs) stood at Rs 4,649.33 crore as on 30 June 2021 as against Rs 4,602.39 crore as on 31 March 2021 and Rs 3,655.59 crore as on 30 June 2020.
The ratio of gross NPAs stood at 3.50% as on 30 June 2021 as against 3.41% as on 31 March 2021 and 2.96% as on 30 June 2020.
The ratio of net NPAs stood at 1.23% as on 30 June 2021 as against 1.19% as on 31 March 2021 and 1.22% as on 30 June 2020.
Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations.
The scrip rose 1.72% to currently trade at Rs 85.70 on the BSE.
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