Federal Bank stock marginally up post Q3 results

Shares of Federal Bank on Tuesday settled with marginal gains after the lender posted 32.1 per cent increase in net profit to Rs 440.64 crore for December 2019-20 quarter. Intra-day, the stock surged 2.71 per cent to Rs 96.35 on the BSE. It closed 0.85 per cent up at Rs 94.60.

On the NSE, it touched a high of Rs 96.40 during the day, up 2.82 per cent. After shedding some early gains, the stock settled 0.96 per cent up at Rs 94.65. In terms of volume, more than 12 lakh units were traded on the BSE and over 3 crore shares exchanged hands on the NSE.

On the BSE, the spurt in volume was more than 1.75 times. 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.

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