Federal Bank Q2 profit up 6 per cent at Rs 240 crore

Private sector lender Federal Bank today said its net profit rose by 6.4 per cent to Rs 240.3 crore in the second quarter ended September, 2014.
The bank had posted a net profit of Rs 225.81 crore during the similar quarter in the previous fiscal.
"Total income has increased from Rs 1,857.84 crore for the quarter ended September 30, 2013, to Rs 2,065.44 crore for the quarter ended September 30, 2014," it said in a filing to the BSE.
Gross non-performing assets (NPAs) or bad loans of the bank fell to 2.1 per cent in the July-September quarter of 2014-15, from 3.39 per cent in the previous fiscal.

Net NPAs were also trimmed to 0.66 per cent in the second quarter of current fiscal, down from 0.98 per cent a year ago.
Federal Bank shares closed at Rs 131.60 per scrip on the BSE today, down 5.12 per cent from the previous close.