 "Federal Bank net profit up 18%")
Federal Bank dipped 7% to Rs 105 on BSE after the private sector lender’s gross and net non-performing assets in December quarter (Q3FY18) rose sequentially.
During the quarter, the gross non-performing assets (NPAs) rose to 2.52% from 2.39% at the end of the second quarter of current fiscal. Net NPAs of the bank stood at 1.36% as against 1.32% reported in the September quarter (Q2FY18).
Federal Bank reported 26% year on year (yoy) growth in net profit at Rs 2.6 billion against Rs 2.06 billion in previous year quarter. Net interest income grew 20% at Rs 9.5 billion
During the quarter, the gross non-performing assets (NPAs) rose to 2.52% from 2.39% at the end of the second quarter of current fiscal. Net NPAs of the bank stood at 1.36% as against 1.32% reported in the September quarter (Q2FY18).
Federal Bank reported 26% year on year (yoy) growth in net profit at Rs 2.6 billion against Rs 2.06 billion in previous year quarter. Net interest income grew 20% at Rs 9.5 billion
