Federal Bank third-quarter profit rises 26 percent, lags estimates

REUTERS - Federal Bank Ltd posted a 26 percent rise in its third-quarter net profit, helped by higher interest income, but missed analysts' estimates by a small margin.

Net profit rose to 2.60 billion rupees ($40.99 million) in the quarter ended Dec. 31 from 2.06 billion rupees a year earlier, the lender said on Monday. (http://bit.ly/2FExhe0)

Analysts on average had expected a net profit of 2.63 billion rupees, Thomson Reuters Eikon data showed.

Gross bad loans as a percentage of total loans stood at 2.52 percent at the end of December, compared with 2.39 percent at end-September.

($1 = 63.4325 Indian rupees)

 

(Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)