Federal Bank Q3 profit falls 5% to Rs 955 crore

Federal Bank Q3 profit falls 5% to Rs 955 crore

Private sector lender Federal Bank on Monday reported a 5 per cent decline in net profit at Rs 955 crore in the third quarter ended December 2024.

The bank had earned a net profit of Rs 1,007 crore in the same quarter a year ago.

However, total income increased to Rs 7,725 crore during the reporting quarter from Rs 5,593 crore in the same period a year ago, Federal Bank said in a regulatory filing.

Interest income also rose to Rs 6,809 crore during the quarter under review as compared to Rs 5,730 crore in the year-ago period.

Operating profit grew to Rs 1,559 crore compared to Rs 1,437 crore in the third quarter of previous fiscal.

On the asset quality front, the bank's gross non-performing assets ratio improved to 1.95 per cent as against 2.29 per cent a year ago.

Similarly, net NPAs, or bad loans, came down to 0.49 per cent from 0.64 per cent at the end of the third quarter last fiscal year.

However, the overall provisions, excluding tax, tripled to Rs 292 crore during the quarter from Rs 91 crore a year ago.

Capital Adequacy Ratio rose to 15.16 per cent from 15.02 per cent at the end of the third quarter of the previous financial year.