Federal Bank logs highest-ever PAT of Rs601 crore in Q1FY23; stock zooms ~2%

15 Jul 2022 , 01:48 PM

Federal Bank Limited announced its unaudited financial results for the quarter ended June 30, 2022 today.

The company reported a 64% yoy jump in PAT at Rs601 crore during the quarter under review, as against Rs367 crore in Q1FY22.

Bank’s total income for Q1FY23 is reported at Rs4,081 crore as compared to Rs4,004 crore in the previous corresponding quarter, up by 2% yoy.

Federal Bank’s Net Interest Income for the quarter came in at Rs1,605 crore, up by 13% yoy against Rs1,418 crore in the previous corresponding quarter.

Gross NPA declined by 81 bps at 2.69% in Q1FY23 as against 3.50% in Q1FY22.

The bank’s total business increased by 12% to Rs3,35,045 crore on June 30, 2022 from Rs2,99,158 crore on June 30, 2021.

Deposits increased by 8% to Rs1,83,355 crore on June 30, 2022, up from Rs1,69,393 crore on June 30, 2021.

CASA deposits totalled Rs67,540 crore with a CASA Ratio of 36.84%.

Resident Savings Bank deposits increased by 19% to Rs31,102 crore on June 30, 2022.

At around 1.54 PM, Federal Bank was trading at Rs98.95 up by Rs1.65 or 1.7% from its previous closing of Rs97.30 on the BSE. The scrip hit intraday high and low of Rs99.85 and Rs96.45 respectively.