Poor Q2 numbers drag Federal Bank, stock hits 52-week low

Moneycontrol BureauShares of Federal Bank slipped 15 percent intraday Wednesday. The company's July-September quarter (Q2FY16) net profit fell 33 percent to Rs 161.3 crore against Rs 240.3 crore, Y-o-Y.The company's gross NPA was up at 2.9 percent versus 2.59 percent and net NPA also increased to 1.33 percent versus 0.98 percent, Q-o-Q.Its gross NPA jumped to Rs 1,499 crore from Rs 1,304.6 crore and net NPA was up at Rs 675 crore against Rs 484.5 crore, Q-o-Q.The provisions stood at Rs 87.3 crore versus Rs 153.1 crore, Q-o-Q and Rs 45.7 crore, Y-o-Y.At 09:27 hrs Federal Bank was quoting at Rs 57.05, down Rs 8.35, or 12.77 percent. It has touched a 52-week low of Rs 55.80 on the BSE.Posted by Rakesh Patil