Federal Bank’s net profit rose 52.89 per cent in the quarter ended September last, beating the private sector.
A statement issued by the bank said:
The bank’s net profit for the second quarter (July-September) of the current financial year stands at Rs 703.71 crore. This is an increase of 52.89 percent compared to the same quarter last year. At that time the net profit of the bank was Rs.460.26 crore.
In the July-September quarter of the current financial year, the bank’s revenue rose to Rs 4,630.30 crore. Revenue for the same period of FY2021-22 was Rs.3,870.90 crore.
The bank’s non-performing loan ratio has come down to 2.46 percent this year from 3.24 percent last year during the assessment months, the report said.
