Federal Bank slips after Q3 results

Federal Bank fell 2.60% to Rs 110.30 at 9:21 IST on BSE after net profit rose 26.43% to Rs 260.01 crore on 6.76% growth in total income to Rs 2729.83 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 15 January 2018.

Meanwhile, the S&P BSE Sensex was up 22.58 points, or 0.06% to 34,866.09.

On the BSE, 2.57 lakh shares were traded in the counter so far, compared with average daily volumes of 10.63 lakh shares in the past two weeks. The stock had hit a high of Rs 112.75 and a low of Rs 108.80 so far during the day. The stock hit a record high of Rs 127.75 on 17 October 2017. The stock hit a 52-week low of Rs 72.60 on 16 January 2017.

The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 2.52% as on 31 December 2017 as against 2.39% as on 30 September 2017 and 2.77% as on 31 December 2016. The ratio of net NPAs to net advances stood at 1.36% as on 31 December 2017 as against 1.32% as on 30 September 2017 and 1.58% as on 31 December 2016.

The bank's provisions and contingencies rose 2.27% to Rs 162.43 crore in Q3 December 2017 over Q3 December 2016.

Federal Bank is a commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different states in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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