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
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