Federal Bank gained 4.69% to Rs 122.70 at 14:05 IST on BSE after net profit rose 31.03% to Rs 263.70 crore on 14.04% rise in total income to Rs 2666.82 crore in Q2 September 2017 over Q2 September 2016.
The result was announced during market hours today, 16 October 2017.Meanwhile, the S&P BSE Sensex was up 181.24 points, or 0.56% to 32,613.93.
High volume was witnessed on the counter. On the BSE, 19.28 lakh shares were traded in the counter so far, compared with average daily volumes of 8.68 lakh shares in the past one quarter. The stock had hit a high of Rs 123 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 116.10 so far during the day. The stock had hit a 52-week low of Rs 61.85 on 26 December 2016.
The stock had outperformed the market over the past one month till 13 October 2017, gaining 3.67% compared with the Sensex's 0.77% gains. The stock had also outperformed the market over the past one quarter, gaining 1.78% as against the Sensex's 1.23% rise. The scrip had also outperformed the market over the past one year, jumping 66.12% as against the Sensex's 17.33% rise.
The large-cap lender has equity capital of Rs 391.59 crore. Face value per share is Rs 2.
Federal Bank's gross non-performing assets (NPAs) rose to Rs 1948.97 crore as on 30 September 2017 as against Rs 1867.94 crore as on 30 June 2017 and Rs 1819.72 crore as on 30 September 2016.
The ratio of gross NPAs to gross advances slipped to 2.39% as on 30 September 2017 as against 2.42% as on 30 June 2017 and 2.78% as on 30 September 2016.
The ratio of net NPAs to net advances dropped to 1.32% as on 30 September 2017 as against 1.39% as on 30 June 2017 and 1.61% as on 30 September 2016.
The bank's provisions and contingencies rose 4.97% to Rs 176.77 crore in Q2 September 2017 over Q2 September 2016.
Federal Bank is one of the leading private sector banks in India.
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