For Quick Alerts
For Daily Alerts

Federal Bank Shares Slump 13% As Net profits Fall


Shares in Federal Bank fell a huge 15 per cent after its net profits plunged. The shares were last trading at Rs 57, after dropping to a 52-week low of Rs 55 on the National Stock Exchange.

Federal Bank Shares Slump 13% As Net profits Fall
The bank reported a sharp drop in net profits by a huge 33 per cent for the quarter ending June 30, 2015. The net profits came in at Rs 161.28 crore as against of Rs 240.30 crores in the previous quarter.

Analysts had largely expected net profits of near Rs 290 crores and the profits were a major disappointment.

Gross non-performing assets also deteriorated at 2.9 per cent in Q2, as compared with 2.1 per cent, net NPAs on the other hand rose to 1.33 per cent from 0.66 per cent.

Analysts are closely watching the results of major banks to see if there is a further deterioration in asset quality. It is expected that the top major private banking names, may not have too much of a worry. The real challenge would come from the government owned banks.

Read more about: npa federal bank
Story first published: Wednesday, October 21, 2015, 9:58 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more