Q1FY23 Results: Federal Bank Net Profit Jumps 63%

Q1FY23 Results Federal Bank on Friday released its performance numbers for the quarter ended June 2022 and reported an a63.5 percent increase in its net profit at Rs600.6 crore.

Q1FY23 Results: Federal Bank Net Profit Jumps 63%

It had posted a profit of Rs 367 crore in the quarter under review last time. Its net interest income( NII) grew 13 percent to Rs1604.5 crore as against Rs,418 crores on a time-on-time basis.

vittles and contingency fell sprucely to Rs166.68 crore from Rs639.94 crore. Gross-performing means( GNPA) stood at2.69 percent in the June 2022 quarter, over from2.80 percent in the March quarter and3.50 percent in the time- ago quarter.

Shares of Federal Bank rose nearly one percent to Rs 98 on the BSE in autumn deals.

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