Federal Bank dips 5% post December quarter earnings

The stock was down 5 per cent at Rs 87, falling 7 per cent from intra-day high of Rs 93 on the BSE on back of heavy volumes.

Shares of Federal Bank were trading 5 per cent lower at Rs 87 apiece, falling 7 per cent from the intra-day high of Rs 93 on BSE after it reported a mixed set of numbers for December 2018 quarter (Q3FY19). The stock was the largest loser among the Nifty Bank index. 

The private sector lender’s gross non-performing assets (NPA) as a percentage of total loans were 3.14 per cent at the end of December, compared with 3.11 per cent in the preceding quarter, and 2.52 per cent a year earlier.

Meanwhile, the net NPA ratio stood at 1.72