Federal Bank first-quarter profit jumps 25 percent, beats estimates


(Reuters) - Federal Bank Ltd posted a 25 percent jump in its first-quarter profit on Tuesday, helped by higher interest income.Net profit was 2.63 billion rupees ($38.49 million) in the three months ended June 30, compared with 2.

10 billion rupees a year earlier, the mid-sized private sector lender said in a statement http://bit.ly/2uqpOey.Analysts, on average, had expected a net profit of 2.02 billion rupees, Thomson Reuters data showed.Gross bad loans as a percentage of total loans was 3 percent at end-June, compared with 3 percent in the.....

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