Federal Bank shares are trading flat in the morning trade. The bank has registered a 56.63% increase in net profit at Rs416.70cr in the Q2FY20 vs. Rs266.04cr in the same period a year ago. The bank’s operating profit came at Rs718.80cr.
The Bank earned a Net Interest Income of Rs1,123.77cr for the quarter ended September 30, 2019. Net Interest Margin stands at 3.01% as of September 30, 2019.
The Gross NPA of the Bank as at the end of Q2FY20 stood at Rs3,612.11cr, which as a percentage to Gross Advances stands at 3.07%. The Net NPA and Net NPA as a percentage to Net Advances as on September 30, 2019, stand at Rs1,843.64cr and 1.59% respectively. The Provision Coverage Ratio (including technical write-offs) is 66.16%.
Stock view:
Federal Bank Ltd is currently trading at Rs84.45, up by Rs0.05 or 0.06% from its previous closing of Rs84.40 on the BSE.
The scrip opened at Rs84.70 and has touched a high and low of Rs84.80 and Rs83.50 respectively.
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