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earnings | IST

Federal Bank posts marginal growth in quarterly profit

Net profit was Rs 266 crore ($36.08 million) in the quarter ended Sept. 30, compared with Rs 264 crore a year earlier, the mid-sized private-sector lender said.

Federal Bank Ltd posted a 0.9 percent rise in second-quarter net profit on Tuesday, helped by higher interest income.
Net profit was Rs 266 crore ($36.08 million) in the quarter ended Sept. 30, compared with Rs 264 crore a year earlier, the mid-sized private-sector lender said.
Eleven analysts, on average, had expected a net profit of Rs 214 crore, according to I/B/E/S data from Refinitiv.
Gross bad loans as a percentage of total loans stood at 3.11 percent at September-end, compared with 3 percent in the previous quarter and 2.39 percent a year earlier.
Interest earned rose 16.2 percent to Rs 2765 crore.
The bank's shares rose as much as 7.5 percent after the results.