Federal Bank Q2 net profit increases by 25% to Rs 201 crore

Private sector Federal Bank, on Tuesday, reported a 24.8 % rise in net profit to Rs 201.24 crore in the second quarter ended September 30, 2016.

The bank's net profit stood at Rs 161.28 crore in the corresponding quarter of previous fiscal. Total income of the bank increased to Rs 2,327.79 crore during the quarter, as against Rs 2,084.53 crore in the same period a year earlier, the bank said in a regulatory filing. Provisioning for bad loans and contingencies increased to Rs 168.40 crore during the quarter from Rs 87.28 crore a year ago.

The bank's gross non performing assets (NPAs) or bad loans as a percentage of gross loans as of September 2016 stood at 2.78 %, from 2.9 % a year ago. Net NPAs were at 1.61 %, from 1.33 %. Shares of the bank were trading at Rs 77.80 on BSE, up 3.80 % on Monday.