Federal Bank Q2 Results: Profit rises 11% to Rs 1,057 crore, NII up 15%
Federal Bank on Monday posted an 11 per cent increase in net profit to Rs 1,057 crore in the September quarter. The lender had earned a net profit of Rs 954 crore in the year-ago period.
The total income increased to Rs 7,541 crore during the quarter under review against Rs 6,186 crore in the same quarter last year, Federal Bank said in a regulatory filing.
The bank reported an interest income of Rs 6,577 crore during the quarter, higher than Rs 5,455 crore in the same period a year earlier.
Net interest income (NII) grew 15 per cent to Rs 2,367 crore as compared to Rs 2,056 crore in the same quarter a year ago.
As regards asset quality, the bank witnessed improvement with gross non-performing assets (NPAs) declining to 2.09 per cent of the gross loans by the end of September 2024 from 2.26 per cent a year ago.
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