Federal Bank’s net profit dipped by 32.88 per cent at Rs.161.28 crore for the second quarter ended September 30, 2015 compared to Rs.240.30 crore in the corresponding period of previous year.
Its other income was also down by 6.94 per cent at 182.27 crore for the second quarter of current fiscal compared to Rs.195.86 crore in the corresponding period of previous year.
Interest income of the Bank, however, was up by 1.75 per cent at Rs.1,902.26 crore compared to Rs.1,869.58 crore.
Net interest income was marginally up by 0.42 per cent at Rs.608.34 crore compared to Rs.605.80 crore. Net Interest Margin as on September 30, 2015 stood at 3.11 per cent.
The total deposits of the Bank increased from Rs.64,563.86 crore to Rs.73,783.20 crore. Total advances grew from Rs.48,466.14 crore to Rs.50,866.67 crore, up by 4.95 per cent.
NRE deposits of the Bank registered a 28.75 per cent growth from Rs.21,140.14 crore to Rs.27,217.34 crore. CASA deposits grew by 19.16 per cent year-on-year to reach Rs.23,513.17 crore.
The gross NPA of the bank as at the end of second quarter of current fiscal stood at Rs.1,498.73 crore, which as a percentage to gross advances stood at 2.90 per cent.
