Federal Bank zooms 6%; hits new peak on highest ever quarterly profit in Q2

In Q2FY23, Federal Bank also recorded its highest ever net interest income of Rs 1,762 crore, which was up 19 per cent YoY

Shares of Federal Bank surged 6 per cent to hit an all-time high of Rs 132.10 on the BSE in Friday’s intra-day trade on heavy volumes after the bank delivered its highest ever quarterly net profit at Rs 704 crore (up 53 per cent year-on-year) in the September quarter (Q2FY23).

The stock of the private sector lender surpassed its previous high of Rs 129.70 touched on September 5, 2022. At 02:06 pm; it was quoting 5 per cent higher at Rs 131.10, as compared to a 1.6 per cent rise in the S&P BSE Sensex. The average trading volumes