Federal Bank fell 3.61% to Rs 81.45 after the bank announced its Q2 results during market hours today, 16 October 2019.
Federal Bank's net profit rose 56.63% to Rs 416.7 crore on a 19.02% increase in total income to Rs 3675.17 crore in Q2 September 2019 over Q2 September 2018.
Gross non-performing assets (NPAs) stood at Rs 3612.11 crore as on 30 September 2019 as against Rs 3394.69 crore as on 30 June 2019 and Rs 3184.53 crore as on 30 September 2018.
The ratio of gross NPAs to net advances stood at 3.07% as on 30 September 2019 as against 2.99% as on 30 June 2019 and 3.11% as on 30 September 2018.
The ratio of net NPAs to gross advances stood at 1.59% as on 30 September 2019 as against 1.49% as on 30 June 2019 and 1.78% as on 30 September 2018.
Provisions and contingencies fell 12.82% to Rs 251.77 crore in Q2 September 2019 over Q2 September 2018.
Gross slippages at Rs 540 crore in September 2019 were higher compared to Rs 477 crore in September 2019 quarter.
Provision coverage ratio of the bank was at 66.16% as on 30 September 2019.
CASA ratio fell to 31.55% at end September 2019 compared 33.39% at end September 2018.
Meanwhile, the S&P BSE Sensex was up 12 points or 0.03% to 38518.08.
On the BSE, 32.90 lakh shares were traded in the counter so far compared with average daily volumes of 22.80 lakh shares in the past two weeks. The stock hit a high of Rs 86.8 and a low of Rs 79.05 so far during the day.
The stock hit a 52-week high of Rs 110.35 on 03 Jul 2019. The stock hit a 52-week low of Rs 73.2 on 15 Oct 2018.
Federal Bank is a scheduled commercial bank having more than thousand branches and ATMs spread across different States in India.
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