Federal Bank Ltd Q2FY18
Standalone Results Q2FY18: (Rs. in crore)
|Net Profit (adjusted)||236||17.3|
Asset quality of the bank improved as GNPA’s as percentage to total advances declined by 39 bps yoy to 2.39% in Q2FY18 vs 2.78% in previous year corresponding quarter. Also, Net NPA for the bank showed improvement by declining 29 bps to 1.32% vs 1.61% in Q2FY17. However, GNPA’s for the quarter rose by 7% yoy to Rs.1948 crore in Q2FY18.
Provisions for the quarter edged up for the quarter by 5% yoy to Rs.176.7 crore in Q1FY18 vs Rs.168 crore in previous year corresponding quarter. This led to 17.3% surge in net profit of the bank to Rs.236 crore in Q2FY18 vs Rs.201 crore in Q2FY17.
Further, advances also saw surge of 25% yoy to Rs.80645 crore in Q2FY18 vs Rs.64686 crore in Q2FY17.While, deposits grew by 13% yoy to Rs.97210 crore.
Bank looks well capitalized at CAR Basel III ratio of 14.63% in Q2FY18 vs 12.85% in Q2FY17.
Federal Bank Ltd is currently trading at Rs. 121.30, up by 4.1 points or 3.5% from its previous closing of Rs. 117.20 on the BSE.
The scrip opened at Rs. 117.35 and has touched a high and low of Rs. 122.45 and Rs. 116.10 respectively. So far 2,62,22,227(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.
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