Federal Bank Q3 results: Profit rises 25% to Rs 1,007 crore
Total income increased to Rs 6,593 crore during the quarter under review from Rs 4,967 crore in the same period last year, Federal Bank said in a regulatory filing.
Federal Bank on Tuesday posted 25 per cent increase in profit at Rs 1,007 crore for the third quarter ended December 2023. The bank had earned a net profit of Rs 804 crore in the same quarter a year ago.
Total income increased to Rs 6,593 crore during the quarter under review from Rs 4,967 crore in the same period last year, Federal Bank said in a regulatory filing.
The private sector bank earned an interest income of Rs 5,730 crore during the quarter compared to Rs 4,433 crore in the same period a year ago.
Gross Non-Performing Assets (NPAs) of the bank declined to 2.29 per cent of gross loans by the end of December 2023 from 2.43 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.64 per cent from 0.73 per cent at the end of the third quarter of the previous fiscal.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 5 Small-Cap Funds With Best SIP Returns in 3 Years: What Rs 5,000 and Rs 10,000 SIPs in each fund have given
Gold and Silver rates today (May 27, 2024): MCX gold jumps after sharp losses last week, silver nears Rs 92,100/kg levels
70:15:15 Investment Strategy: Can you build over Rs 1 crore corpus with just Rs 20,000 salary? Know calculations
Shark Tank India: This startup gets blank check offer as revenue soars 10 times in 15 months, resulted in clash between judges
02:48 PM IST