 "Federal Bank net profit up 18%")
Private sector lender Federal Bank’s net profit rose 29 per cent year-on-year to Rs 522 crore in the third quarter ended December 2021 (Q3 of FY22) on sharp reduction in provisions and marginal improvement in net interest margin.
Net profit was Rs 404 crore in Q3 of FY21. Sequentially, net profit rose by 13.2 per cent from Rs 460 crore in the second quarter ended September 2021.
Its stock closed 4.35 per cent higher at Rs 95.85 per share on the BSE on Tuesday.
Net interest income (NII) rose by seven per cent year-on-year (YoY) to Rs 1,539 crore in
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