Federal Bank Registers 11% Rise in Q2 Net Profit

Federal Bank reported an 11% increase in its net profit for the September quarter, reaching Rs 1,057 crore. The total income rose to Rs 7,541 crore, and net interest income grew by 15% to Rs 2,367 crore. Asset quality improved with a reduction in NPAs.

Federal Bank has announced an 11% rise in its net profit for the September quarter, amounting to Rs 1,057 crore, compared to Rs 954 crore last year.

The bank's total income saw a boost, hitting Rs 7,541 crore against Rs 6,186 crore in the previous year, according to its regulatory filing.

With an improved asset quality, Federal Bank's gross non-performing assets dropped to 2.09% of gross loans, while the net NPAs reduced to 0.57% this quarter.