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Federal Bank tumbles after weak Q4 result

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Capital Market

Federal Bank slumped 11.42% to Rs 89.60 at 14:58 IST on BSE after net profit dropped 43.49% to Rs 144.99 crore on 10.16% rise in total income to Rs 2862.14 crore in Q4 March 2018 over Q4 March 2017.

The result was announced after market hours yesterday, 9 May 2018.

Meanwhile, the S&P BSE Sensex was down 74.99 points, or 0.21% to 35,244.36.

The stock dropped on high volume. On the BSE, 81.35 lakh shares were traded in the counter so far compared with average daily volumes of 7.35 lakh shares in the past two weeks. The stock had hit a high of Rs 94.65 and a low of Rs 88.20 so far during the day. The stock hit a record high of Rs 127.75 on 17 October 2017. The stock hit a 52-week low of Rs 87.50 on 6 February 2018.

 

The large-cap bank has equity capital of Rs 394.56 crore. Face value per share is Rs 2.

Federal Bank's board of directors has recommended the payment of final dividend of Re 1 per share.

Federal Bank is a commercial bank in the private sector having more than thousand branches and ATMs spread across different states in India.

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First Published: May 10 2018 | 3:17 PM IST

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