Federal Bank reported a rise of 28 percent (year-on-year) in its net profit for the December quarter at Rs 333.63 crore from Rs 260 crore last year.
The Kochi-based lender also posted a growth of 13 percent (YoY) in its net interest income to Rs 1,077.3 crore against Rs 950 crore posted last year. For the uninitiated, the difference between interest earned and spent is known as net interest income.
Other income reported by the bank stood at Rs 345.5 crore against Rs 228.6 crore last year.
The gross NPA ratio rose margially to 3.14 percent from the previous quarter’s ratio of 3.11 percent. Meanwhile, the net NPA ratio stood at 1.72 percent. It improved from 1.78 percent in the previous quarter.
The gross NPAs stood at Rs 3,361 crore against Rs 3,185 crore posted during the last quarter. While, net NPAs rose to Rs 1,817 crore against Rs 1,796 crore last quarter.
The provisions reported a drop from the previous quarter to Rs 190.1 crore against Rs 289 crore. On a year on year basis, it reported a jump from Rs 162.4 crore.
Other key metrics
The lender reported slippages at Rs 435 crore against RS 477 crore last quarter. The SME slippages stood at Rs 192 crore against Rs 169 crore posted last quarter.
The net interest margin stood at 3.17 percent against 3.15 percent in September quarter.
The loan growth stood at 25 percent year on year, while its restructured book stood at Rs 1,150 crore.
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