The Hindu Business Line : Federal Bank Q1 net climbs 66%

Kochi, July 27 Federal Bank’s net profit grew by 66 per cent to Rs 66.94 crore (Rs 40.18 crore) during the first quarter of the current fiscal. Operating profit rose 65 per cent to Rs 188.43 crore (Rs 113.73 crore).

Spurred by non-interest income growth of 85 per cent to Rs 100.48 crore, the total income grew to Rs 659.70 crore. Interest income was up by 37 per cent to Rs 559.22 crore. Net interest margin was at 3.21 per cent.

The total business touched Rs 35,561 crore, up by Rs 5,172 crore. Total deposits increased 13 per cent to Rs 20,893 crore while advances grew by 23 per cent to Rs 14,667 crore. Net NPA touched an all-time low of 0.37 per cent. The capital adequacy ratio grew to 13.32 per cent.

Retail advances grew by 34 per cent to Rs 4,349 crore (Rs 3247 crore). Lending to agriculture sector rose 58 per cent to Rs 2,396 crore. The bank had a total net worth of Rs 1,569.15 crore. The EPS increased to Rs 31.28 while the book value per share grew to Rs 183.31, as against Rs 18.77 and Rs 150.71 at the end of the last fiscal.

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