New Delhi: Federal Bank on Tuesday posted a 25 percent rise in profit at Rs 1,007 crore for the third quarter ended December 2023. The bank earned a net profit of Rs 804 crore in the same quarter a year ago.
Total income increased to Rs 6,593 crore during the quarter review from Rs 4,967 crore in the same period last year, Federal Bank said in a regulatory filing.
The private sector bank earned interest income of Rs 5,730 crore during the quarter compared to Rs 4,433 crore in the same period a year ago.
The bank’s Gross Non-Performing Assets (NPAs) declined to 2.29 percent of gross loans by the end of December 2023 from 2.43 percent a year ago.
Similarly, net NPAs or bad loans fell to 0.64 percent from 0.73 percent at the end of the third quarter of the previous fiscal.