Federal Bank reports 33% fall in Q2 net profit

Federal Bank reports 33% fall in Q2 net profit

Total income of the bank has increased marginally by 0.92% at Rs 2084.53 crore for quarter under review
Federal Bank has reported results for second quarter ended September 30, 2015.

The bank has posted a fall of 32.88% in its net profit at Rs 161.28 crore for the quarter ended September 30, 2015 as compared to Rs 240.30 crore for the same quarter in the previous year. However, total income of the bank has increased marginally by 0.92% at Rs 2084.53 crore for quarter under review as compared to Rs 2065.44 crore for the quarter ended September 30, 2014.

The bank’s gross NPA for the July-September quarter of the current fiscal increased to 2.90%, as compared to 2.10% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 1.33% in Q2FY16.
source :ventura