Shares of Federal Bank on Tuesday rose nearly 3 per cent after the lender posted a 32.1 per cent increase in net profit to Rs 440.64 crore for December 2019-20 quarter.
In early morning session, the stock surged 2.71 per cent to Rs 96.35 on the BSE.
On the NSE, it touched a high of Rs 96.40, up 2.82 per cent over previous close.
Federal Bank on Monday posted 32.1 per cent increase in net profit to Rs 440.64 crore for December quarter.
The private sector lender had registered a profit of Rs 333.63 crore in the year-ago period.
Total income also improved to Rs 3,738.22 crore in the third quarter as against Rs 3,299.96 crore in the year-ago period, Federal Bank said in a regulatory filing on Monday.
Disclaimer: No Business Standard Journalist was involved in creation of this content
