Federal Bank Net Profit Increases 25% To ₹1,007 Cr In Q3FY24

Federal Bank Net Profit Increases 25% To ₹1,007 Cr In Q3FY24

Total income increased to Rs 6,593 crore during the quarter under review from Rs 4,967 crore in the same period last year, Federal Bank said in a regulatory filing.

PTIUpdated: Tuesday, January 16, 2024, 02:03 PM IST
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Federal Bank Net Profit Increases 25% To ₹1,007 Cr In Q3FY24 |

Federal Bank on Tuesday posted 25 per cent increase in profit at Rs 1,007 crore for the third quarter ended December 2023.

The bank had earned a net profit of Rs 804 crore in the same quarter a year ago.

Total income increased to Rs 6,593 crore during the quarter under review from Rs 4,967 crore in the same period last year, Federal Bank said in a regulatory filing.

The private sector bank earned an interest income of Rs 5,730 crore during the quarter compared to Rs 4,433 crore in the same period a year ago.

Gross Non-Performing Assets (NPAs) of the bank declined to 2.29 per cent of gross loans by the end of December 2023 from 2.43 per cent a year ago.

Similarly, net NPAs or bad loans came down to 0.64 per cent from 0.73 per cent at the end of the third quarter of the previous fiscal. 

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