Federal Bank net profit rises 54% yoy to Rs 804 crore in Q3FY23

17 Jan 2023 , 12:52 PM

Federal Bank has announced its Financial Results for the quarter and nine months ended on December 31, 2022.

Highlights of the results on a yoy basis are as follows:

• Net Profit highest ever at Rs 804 crore, increases by 54% YoY
• Operating Profit highest ever at Rs 1274 crore
• ROA for Q3 at 1.33% and ROE at 15.91%
• Highest ever Net Interest income at Rs 1957 crore, increases by 27.14% YoY
• NIM increased to 3.49%, higher by 22 bps YoY
• GNPA and NNPA brought down to 2.43% and 0.73% respectively.
• Total Advances increased by 19.08%

Commenting on the results, Shyam Srinivasan, Managing Director & CEO, said, “An all-round strong operating performance has helped us deliver the highest ever quarterly profit of 804Cr. Credit Cost has improved on the back of continued strong asset quality, with GNPA and NNPA at 2.43% and 0.73% respectively. Broad based asset growth of 19%, coupled with core revenue profile has yielded in higher ROA, currently at 1.33%.’

At a round 1:07 PM, Federal Bank was trading at Rs138.75 per share lower by 1.07% on the BSE.

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