Federal Bank slumps post Q3

Federal Bank posted a decent set of numbers for Q3FY18 but traders immediately resorted to profit booking as the asset quality worsened. ; so much so that it is currently the top loser on the BSE, going down 5% to 107.75.

The Bank posted a 26% (YoY) rise in net profit at Rs.260 crore on a total income of Rs.2730 crore, up 7%. NII rose 20% to Rs.950 crore

In terms of asset quality, there was a fall  – Gross NPA rose to 2.52% from 2.39% (QoQ) and Net NPA too rose from 1.32% t0 1.36%.

Its provisions and contingencies stood at Rs.162 crore, up 2% (YoY) rose 2.27% to Rs 162.43 crore