Federal Bank Q3FY24 Quarter Results

Federal Bank’s net revenues grew over 32% YoY
  • 16 Jan 2024
  • Federal Bank’s net revenues (net interest income plus other income) grew by 6.8% quarter-on-quarter (QoQ) during the quarter ended December (Q3FY24). On a year-on-year (YoY) basis, it witnessed a growth of 32.9%.
  • Its expenses for the quarter were up by 6.1% QoQ and 39.5% YoY.
  • The bank’s net profit grew 4.2% QoQ and 22.8% YoY.
  • The bank’s capital adequacy ratio (CAR) stood at 15.4% in Dec 2023 quarter.
  • Net non-performing assets (NPAs) were at 0.68% of net advances as of Dec 2023.
  • The earnings per share (EPS) of Federal Bank stood at Rs 4.2 during Q3FY24.

Federal Bank’s financial statements for Q3FY24:

(Rs, crores) Q3FY23 Q2FY24 Q3FY24 QoQ (%) YoY (%)
Total income
5,262.6
6,548.2
6,993.6
6.8%
32.9%
Total expenses
3,914.8
5,147.9
5,459.9
6.1%
39.5%
Provisions & contingencies
213.6
57.6
113.9
97.8%
-46.7%
Profit before tax
1,134.2
1,342.7
1,419.8
5.7%
25.2%
Tax
281.9
342.6
356.6
4.1%
26.5%
Profit after tax
843.3
994.1
1,035.4
4.2%
22.8%
Earnings per share
3.9
4.3
4.2

Data Source: BSE, Company announcements

The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results

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