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Federal Bank Q4 net jumps two-fold to Rs 381 cr on higher interest income

Provisioning for bad loans during the quarter more than halved to Rs 177.76 crore, as against Rs 371.53 crore in the corresponding period of 2017-18

Press Trust of India  |  New Delhi 

Federal Bank

Saturday reported an over two-fold jump in net profit for the March quarter at Rs 381.51 crore on account of lower provisioning and higher interest income.

The private sector lender had posted a standalone net profit of Rs 144.99 crore in the fourth quarter of 2017-18 financial year.

Total income of the rose to Rs 3,444 crore in the March quarter of 2018-19, from Rs 2,862 crore in the same period last fiscal, said in a BSE filing.

Provisioning for bad loans during the quarter more than halved to Rs 177.76 crore, as against Rs 371.53 crore in the corresponding period of 2017-18.

Interest income increased to Rs 2,413 crore during the fourth quarter from Rs 1,951 crore earlier.

For the full 2018-19 fiscal, reported a standalone net profit of Rs 1,243.89 crore, up 41.5 per cent from Rs 878.85 crore in 2017-18.

First Published: Sat, May 04 2019. 14:45 IST
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