Federal Bank tumbles to 52-week low after weak Q3 outcome

Federal Bank lost 8.03% to Rs 48.10 at 15:25 IST on BSE after net profit fell 38.52% to Rs 162.72 crore on 0.18% fall in total income to Rs 2086.07 crore in Q3 December 2015 over Q3 December 2014.

The Q3 result was announced during market hours today, 12 January 2016.

Meanwhile, the S&P BSE Sensex was down 146 points or 0.59% at 24,679.04

On BSE, so far 22.82 lakh shares were traded in the counter as against average daily volume of 3.84 lakh shares in the past one quarter. The stock hit a low of Rs 47.45 so far during the day, which is also a 52-week low for the scrip. The stock hit a high of Rs 52.50 so far during the day. The stock had hit a record high of Rs 79.73 on 3 July 2015.

The mid-cap private-sector bank has equity capital of Rs 343.72 crore. Face value per share is Rs 2.

On absolute basis, Federal Bank's gross non-performing assets (NPAs) stood at Rs 1684.11 crore as on 31 December 2015, compared with Rs 1498.73 crore as on 30 September 2015 and Rs 1066.63 crore as on 31 December 2014. The ratio of gross NPAs to gross advances stood at 3.15% as on 31 December 2015 as against 2.9% as on 30 September 2015 and 2.19% as on 31 December 2014. The ratio of net NPAs to net advances stood at 1.66% as on 31 December 2015 as against 1.33% as on 30 September 2015 and 0.69% as on 31 December 2014. The bank's capital adequacy ratio (CAR) as per Basel III norms stood at 14.32% as on 31 December 2015, compared with 14.71% as on 30 September 2015 and 14.51% as on 31 December 2014.

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

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