Federal Bank fell 1.58% to Rs 90.20 after the bank announced Q3 results during market hours today, 20 January 2020.
On a standalone basis, Federal Bank's net profit jumped 32.07% to Rs 440.64 crore on a 13.28% increase in total income to Rs 3,738.22 crore in Q3 December 2019 over Q3 December 2018.
The standalone profit before tax (PBT) rose 12.60% to Rs 582.96 crore in Q3 December 2019 as against Rs 517.71 crore in Q3 December 2018. Tax expense reduced by 22.68% to Rs 142.32 in Q3 December 2019 as compared with Rs 184.08 crore in Q3 December 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 3,618.69 crore as on 31 December 2019 as against Rs 3,612.11 crore as on 30 September 2019 and Rs 3,361.23 crore as on 31 December 2018.
The ratio of gross NPAs to gross advances stood at 2.99% as on 31 December 2019 as against 3.07% as on 30 September 2019 and 3.14% as on 31 December 2018.
The ratio of net NPAs to net advances stood at 1.63% as on 31 December 2019 as against 1.59% as on 30 September 2019 and 1.72% as on 31 December 2018.
The bank's provisions and contingencies (excluding tax provisions) dropped 15.39% to Rs 160.86 crore in Q3 December 2019 over Q3 December 2018.
In the past one month, shares of Federal Bank advanced 3.08%, outperforming Nifty Private Bank index's 3.77% fall in the same period.
Federal Bank is a scheduled commercial bank having more than thousand branches and ATMs spread across different States in India.
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