Home >Companies >Company Results >Federal Bank's Q4 net profit falls 21% YoY to 301 crore
After provisions, Federal Bank's net NPA ratio was at 1.31% against 1.63% during October-December and 1.48% in the year-ago quarter. (Photo: Mint)
After provisions, Federal Bank's net NPA ratio was at 1.31% against 1.63% during October-December and 1.48% in the year-ago quarter. (Photo: Mint)

Federal Bank's Q4 net profit falls 21% YoY to 301 crore

  • Provisions during the quarter rose over three times year-on-year to 567.50 crore. In October-December, the bank had set aside 160.86 crore in provisions

MUMBAI: Federal Bank Ltd on Thursday reported a 21% year-on-year (YoY) fall in its net profit for January-March due to higher provisioning.

The bank posted a net profit of 301.23 crore for the quarter ended March, down from 381.51 crore in the year-ago period. Profit was lower than 380.20 crore estimated by a Bloomberg poll of 12 analysts.

Provisions during the quarter rose more than three times to 567.50 crore from 177.76 crore in the year-ago quarter. In October-December, the bank had set aside 160.86 crore in provisions.

Net interest income, or the difference between interest earned on loans and that paid on deposits, increased 10.9% to 1,216.01 crore. Other income, which includes core fee income, rose 72.7% to 711.11 crore during the period under review.

Gross non-performing assets (NPAs), as a percentage of total advances, were at 2.84% in the March quarter compared with 2.99% in the December quarter and 2.92% in the year-ago quarter.

After provisions, net NPA ratio was at 1.31% against 1.63% during October-December and 1.48% in the year-ago quarter.

Shares of the bank rose 4.3% to close at 42.75 apiece, while the benchmark Sensex gained 1.9% to close at 32,200.59 points

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