Federal Bank Q1 Result, Net Jumps 18.3%

Private lender Federal Bank today reported a rise of 18.3 percent in net profit at Rs 167.3 crore during the June quarter of the current fiscal. 

The bank had reported a net profit of Rs 141.4 crore in April-June of 2015-16. The total earnings of the bank increased to Rs 2,250.8 crore for the quarter under review, as against Rs 2,107.09 crore a year before, the bank said in a regulatory filing. 

The bank kept its grip on asset quality as it saw only a marginal uptick in its bad loan profile, with gross non-performing assets (NPAs) rising to 2.92 percent of gross advances as of June 2016 against 2.59 percent a year ago. 

Net NPAs were at 1.68 percent of net loans at the end of June, up from 0.98 percent in the previous year. Provisions went up to Rs 168.48 crore as of June 2016 as against Rs 153.10 crore at the end of June 2015.

Q1FY16 Vs Q1FY17
Net Total Income for Q1 grew by 16.40 % on a y-o-y basis to Rs.929.71 Cr.

• Net Interest Income increased by 14.45% to Rs.692.17 Cr
• Total Deposits increased by 12.47 % from Rs.72,139.67Cr to Rs.81,132.11 Cr.
• Savings deposits grew by 20.04% to reach Rs.22,668.39 Cr
• CASA grew by 18.09% to reach Rs.26,634.51Cr
• CASA ratio improved to reach 32.83%.
• NRE deposits grew by 24.54% to reach Rs.32,120.83 Cr
• Advances increased by 19.30% from Rs.49,551.75 Cr to Rs.59,117.68 Cr.
• SME Advances registered a growth of 17.79% to reach Rs.15,325.04Cr.
• Investments stood at Rs.22850.96 Cr
• Book Value per share increased  to Rs. 47.07 from Rs. 45.98