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Federal Bank reports 26% fall in Q2 consolidated net profit

16 Oct 2020 Evaluate

Federal Bank has reported results for second quarter ended September 30, 2020.

The bank has reported 26.18% fall in its net profit of Rs 307.62 crore for the quarter under review as against Rs 416.70 crore for the same quarter in the previous year. However, total income of the bank increased by 8.76% at Rs 3997.23 crore for Q2FY21 as compared Rs 3675.17 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported 25.84% fall in its net profit of the group at Rs 315.45 crore for the quarter under review as against Rs 425.34 crore for the same quarter in the previous year. However, total income of the bank increased by 10.21% at Rs 4131.32 crore for Q2FY21 as compared Rs 3748.44 crore for the corresponding quarter previous year.

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