Federal Bank Q3 profit up 32 pc to Rs 441 cr

Federal Bank on Monday posted 32.1 per cent increase in net profit at Rs 440.64 crore for December quarter 2019-20.

The private sector lender registered a profit of Rs 333.63 crore in the year-ago period.

Total income also improved to Rs 3,738.22 crore during the third quarter as against Rs 3,299.96 crore in the year-ago period, Federal Bank said in a regulatory filing.

Gross non-performing assets (NPAs) declined to 2.99 per cent of the total advances during the quarter, compared with 3.14 per cent at the end of the third quarter of 2018-19.

Net NPAs of the bank also fell to 1.63 per cent of the total assets in October-December 2019 as against 1.72 per cent a year ago.