Strong Q1 numbers generate interest in Federal Bank

Federal Bank rose 1.01% to Rs 125.30 at 15:19 IST on BSE after net profit surged 108.43% to Rs 220.23 crore on 3.15% growth in total income to Rs 1928.04 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 16 July 2014.

Meanwhile, the S&P BSE Sensex was up 330.88 points or 1.31% at 25,559.53.

On BSE, so far 17.12 lakh shares were traded in the counter as against average daily volume of 6.74 lakh shares in the past two weeks.

The stock hit a high of Rs 129.05 and a low of Rs 124.10 so far during the day.

Federal Bank's provisions and contingencies declined 90.6% to Rs 22.08 crore in Q1 June 2014 over Q1 June 2013.

The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 2.22% as on 30 June 2014 as against 2.46% as on 31 March 2014 and 3.51% as on 30 June 2013. The ratio of net NPA to net advances stood at 0.68% as on 30 June 2014 as against 0.74% as on 31 March 2014 and 0.91% as on 30 June 2013.

Federal Bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 15.16% as on 30 June 2014 as against 15.14% as on 31 March 2014 and 14.27% as on 30 June 2013.

Federal Bank is a leading private sector bank in India.

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