Federal Bank Q3 profit rises 26%, lags estimates
Bengaluru: Federal Bank Ltd posted a 26% rise in its third-quarter net profit, helped by higher interest income, but missed analysts’ estimates by a small margin.
Net profit rose to Rs260 crore ($40.99 million) in the quarter ended 31 December from Rs206 crore a year earlier, the lender said on Monday.
Analysts on average had expected a net profit of Rs263 crore, Thomson Reuters Eikon data showed.
Gross bad loans as a percentage of total loans stood at 2.52% at the end of December, compared with 2.39% at end-September.
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