Federal Bank Q4 net up 163% to Rs 381 cr on interest margins, fee income

Gross NPAs as a percentage of gross advances, came down to 2.92% as of March 2019 from 3% in March 2018

Federal Bank’s net profit rose by 163.13 per cent to Rs 381.51 crore for the fourth quarter ended March on the back of better interest margins and robust other income. The lender had posted a net profit of Rs 145 crore in Q4FY18. The growth was on account of a significant rise in fee income, healthy growth of interest income and a drop in provisions over the year-ago quarter.

Net interest income, or the interest earned minus interest expended, was up 17.5 per cent to Rs 1,096.53 crore during the quarter under review, from Rs 933.22 crore in the March