Federal Bank surged 10.58% to Rs 78.90 at 10:33 IST on BSE after net profit rose 4.97% to Rs 225.81 crore on 11.57% growth in total income to Rs 1857.84 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced on Saturday, 19 October 2013.
Meanwhile, the S&P BSE Sensex was down 8.97 points or 0.04% at 20,873.92.
The stock surged on heavy volumes. On BSE, 16.37 lakh shares were traded in the counter as against average daily volume of 2.02 lakh shares in the past two weeks.
The stock was volatile. The stock surged as much as 19.13% at the day's high of Rs 85 so far during the day. The stock rose 1.96% at the day's low of Rs 72.75 so far during the day.
Federal Bank's ratio of gross non-performing assets (NPAs) to gross advances decreased to 3.39% as on 30 September 2013, from 3.51% as on 30 June 2013 and 3.83% as on 30 September 2012. The ratio of net NPAs to net advances stood at 0.98% as on 30 September 2013, as against 0.91% as on 30 June 2013 and 0.68% as on 30 September 2012.
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The bank's deposits grew 14.69% to Rs 56793.74 crore as on 30 September 2013, from Rs 49518.07 crore as on 30 September 2012. Borrowings rose 82.73% to Rs 5032.89 crore as on 30 September 2013, as against Rs 2754.25 crore as on 30 September 2012.
Federal Bank's provisions and contingencies declined 63.94% to Rs 10.98 crore in Q2 September 2013 over Q2 September 2012.
The bank's capital adequacy ratio (CAR) as per Basel III norms stood at 15.35% as on 30 September 2013.
Federal Bank on Saturday, 19 October 2013 said that the Investment and Capital Raising Committee of the Board of the bank, at its meeting held on 19 October 2013 has decided to allot 85.53 crore shares of Rs 2 each in place of shares of Rs 10 each.
Federal Bank's total branch network stood at 1103 branches as on 31 March 2013. The bank had 1,187 ATMs as at 31 March 2013.
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