Federal Bank tumbles after weak Q2 result

Federal Bank lost 11.09% to Rs 58.15 at 10:51 IST on BSE after net profit fell 32.9% to Rs 161.28 crore on 0.9% rise in total income to Rs 2084.53 crore in Q2 September 2015 over Q2 September 2014.

The bank announced results after market hours yesterday, 20 October 2015.

Meanwhile, the BSE Sensex was up 135.09 points, or 0.5%, to 27,441.92

The stock dropped on high volume. On BSE, so far 17.92 lakh shares were traded in the counter, compared with an average volume of 4.68 lakh shares in the past one quarter.

The stock hit a high of Rs 61.10 and low of Rs 55.80 so far during the day. The stock hit a record high of Rs 79.73 on 3 July 2015. The stock hit a 52-week low of Rs 56.30 on 4 September 2015.

The stock had underperformed the market over the past one month till 20 October 2015, rising 3.56% compared with 4.15% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 7.56% as against Sensex's 3.92% decline.

The large-cap private sector bank has an equity capital of Rs 343.56 crore. Face value per share is Rs 2.

Federal Bank's ratio of net non-performing assets (NPAs) to net advances rose to 1.33% as on 30 September 2015, from 0.98% as on 30 June 2015 and 0.66% as on 30 September 2014.

The bank's ratio of gross NPAs to gross advances rose to 2.9% as on 30 September 2015, from 2.59% as on 30 June 2015 and 2.1% as on 30 September 2014.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 14.71% as on 30 September 2015, compared with 15.07% as on 30 June 2015 and 14.45% as on 30 September 2014.

Federal Bank is one of the leading private sector bank in India.

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