Federal Bank shares jump over 8% post Q2 earnings

Shares of Federal Bank today zoomed over 8 per cent after the company reported a 24.8 per cent rise in net profit in the second quarter.
The stock surged 8.27 per cent to end at Rs 81.15 on BSE. Intra-day, it jumped 9 per cent to Rs 81.75 -- its 52-week high.
On NSE, shares of the company soared 8.26 per cent to close at Rs 81.20.
On the volume front, 27.33 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day.
Private sector Federal Bank today reported a 24.8 per cent rise in net profit to Rs 201.24 crore in the second quarter ended September 30, 2016.

The bank's net profit stood at Rs 161.28 crore in the corresponding quarter of previous fiscal.

Total income of the bank increased to Rs 2,327.79 crore during the quarter, as against Rs 2,084.53 crore in the same period a year earlier, the bank said in a regulatory filing.
The bank's gross non performing assets (NPAs) or bad loans as a percentage of gross loans as of September 2016 stood at 2.78 per cent, from 2.9 per cent a year ago.
Net NPAs were at 1.61 per cent, from 1.33 per cent.