Logo


Federal Bank gains after strong Q1 results

Federal Bank was up 1.13% to Rs 107.80 after net profit rose 46.25% to Rs 384.21 crore on 23.23% increase in total income to Rs 3,620.82 crore in Q1 June 2019 over Q1 June 2018.

Meanwhile, the S&P BSE Sensex was up by 206.07 points or 0.53% to 39,102.93.

On the BSE, 28.27 lakh shares were traded in the counter so far compared with average daily volumes of 5.93 lakh shares in the past two weeks. The stock had hit a high of Rs 108.7 and a low of Rs 101.9 so far during the day. It hit a 52-week high of Rs 110.35 on 3 July 2019 and a 52-week low of Rs 67.05 on 4 October 2018.

Federal Bank's gross non-performing assets (NPAs) stood at Rs 3394.69 crore as on 30 June 2019 as against Rs 3260.68 crore as on 31 March 2019 and Rs 2868.82 crore as on 30 June 2018.

The ratio of net NPAs to net advances stood at 1.49% as on 30 June 2019 as against 1.48% as on 31 March 2019 and 1.72% as on 30 June 2018.

The bank's provisions and contingencies fell 3.57% to Rs 192.04 crore in Q1 June 2019 over Q1 June 2018.

Federal Bank is a private sector, scheduled commercial bank in India.

Powered by Capital Market - Live News