Federal Bank Q4 profits dips 21% at Rs 301.2 crore on higher provisions
Net NPA was down at 1.31% versus 1.63% and gross NPA was down at 2.84% versus 2.99%, QoQ.
May 28, 2020 / 03:22 PM IST
Private lender Federal Bank has reported 21 percent YoY fall in its March quarter (Q4 FY20) net profit at Rs 301.2 crore against Rs 381.5 crore, on the back of higher provisions, reported CNBC-TV18.
Net Interest Income (NII) rose 10.9 percent YoY at Rs 1,216 crore versus Rs 1,096.5 crore.
Other income of the bank rose 73 percent at Rs 711 crore during Q4 versus Rs 411.7 crore in the year-ago period.
The provisions for the quarter stood at Rs 567.5 crore versus Rs 160.9 crore in Q3 FY20 and Rs 177.8 crore in Q4 FY19.
Net NPA was down at 1.31 percent versus 1.63 percent and gross NPA was down at 2.84 percent versus 2.99 percent on a QoQ basis.
In absolute terms, net NPA was down at Rs 1,607.2 crore versus Rs 1,941 crore in Q3 FY20. Gross NPA stood at Rs 3,530.8 crore versus Rs 3,618.7 crore in the previous quarter.
At 14:52 hrs, Federal Bank was quoting at Rs 42.45, up Rs 1.45, or 3.54 percent on the BSE.