LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » India News

Federal Bank Q2 net jumps 31% as bad loans come down

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Mon, Oct 16, 2017
02:39 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Private sector Federal Bank today reported a jump of over 31 per cent in net profit to Rs 263.70 crore for the September quarter of the current fiscal as it trimmed bad loans.

The bank's net profit in the corresponding July-September period of 2016-17 was Rs 201.24 crore.

Its total income increased 14.1 per cent to Rs 2,666.82 crore during the quarter, from Rs 2,338.32 crore a year ago, as per the bank's regulatory filing.

Bad loans or non-performing assets (NPAs) of the bank came down during the quarter under review. Its gross NPAs as a percentage of gross advances at end of September 2017 stood at 2.39 per cent, as against 2.78 per cent a year ago.

Net NPAs were trimmed to 1.32 per cent of the net advances disbursed by the bank by the end of second quarter of 2017-18, down from 1.61 per cent over the same period of the previous fiscal.

However, there was a slight uptick in bank's provisions for bad loans and contingencies at Rs 176.77 crore for July- September 2017-18, compared with Rs 168.40 crore it put aside in the year ago quarter.

The bank said it has made provision for NPAs as stipulated under the Reserve Bank norms.

"Further, provision for standard assets including requirements for exposures to entities with unhedged foreign currency exposures and provision for restructured advances have been made as per RBI guidelines," it added.

The Federal Bank stock jumped 5.67 per cent to Rs 123.85 on BSE post the earnings announcement.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Tata Power Solar wins Rs 1,200 crore order to set up 320 MW project from NTPC

Papua New Guinea hit by 5.7 magnitude earthquake

7th Pay Commission latest news today: Massive pay plus dearness allowance, house rent allowance; Details of this 7th CPC central government offer at upsconline.nic.in

Cyient share price up 18% on strong Q3 FY21, highlights HDFC Securities

Traffic violations fine: NEVER EVER drive on wrong side of the road in this city, you may lose your driving licence permanently

LG K42 price, features, specifications here | Important freebies, warranty, unique details here

Mid-Cap Stock Picks with Anil Singhvi: Titagarh Wagons, JSW Energy and Praj Industries are top Ambareesh Baliga recommendations today

Warning for bank account holders! Do this fast or you may be badly affected - check IDBI Bank notification

Subhas Chandra Bose 125th birth anniversary: PM Modi to visit Kolkata to address 'Parakram Diwas' celebrations; will also disburse plot certificates in Assam

7th Pay Commission: Don't Miss! What government employees should know about salary hike, DA release, arrears clearance

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved