Federal Bank Q4 net up by 25 pc at Rs 277cr

Kerala-based Federal Bank today reported a rise of 2.5 per cent in net profit at Rs 277.29 crore for the fourth quarter ended March 31, 2014.

The private sector lender had posted a profit of Rs 221.94 crore during the January-March quarter in previous fiscal 2012-13.

Its total income during the last quarter of FY14 rose to Rs 2,017.12 crore, from Rs 1,780.31 crore a year earlier, it said in a filing to the BSE.

Net non-performing assets (NPAs) of the banks trimmed to 0.74 per cent during the quarter, from 0.98 per cent in the previous fiscal's corresponding period.

Gross bad loans or NPAs were also reduced to 2.76 per cent during January-March of 2013-14, from 3.44 per cent a year ago.

Shares of Federal Bank closed down by 2.79 per cent at Rs 92.25 apiece on the BSE today.

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