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Federal Bank reports 91% rise in Q1 net profit

16 Jul 2014 Evaluate

Federal Bank has reported results for the quarter ended June 30, 2014

The bank’s net profit for the quarter rose by 91.40% at Rs 202.23 crore as compared to Rs 105.66 crore for the quarter ended June 30, 2013. Its total income has increased by 3.16% to Rs 1928.04 crore for the quarter under review from Rs 1869.05 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal stood at 2.22%, as compared to 3.51% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 0.68% in Q1FY15 as compared to 1.91% in the same quarter of the previous year.

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