Private sector lender Federal Bank on Friday reported a 13.2 per cent rise in its standalone net profit to `541 crore in the March 2022 quarter. The bank had posted a net profit of `478 crore in the same quarter previous
fiscal.
The total income during the January-March quarter of 2021-22 increased to ` 3,948.24 crore against `3,843.87 crore in the same period of the preceding fiscal, Federal Bank said in a regulatory filing.
For the entire FY22, the net profit (standalone) surged by 18.8 per cent to `1,889.82 crore, compared to ` 1,590.30 crore in FY21.
The total income in FY22 rose slightly to `15,749.85 crore from `15,716.61
crore.
On the front of asset quality, the gross non-performing assets (NPAs) improved to 2.80 per cent of the gross advances as of March 31, 2022, from 3.41 per cent a year ago.
In value terms, the gross NPAs stood at ` 4,136.74 crore, down from `4,602.39 crore.Likewise, the net NPAs too declined to 0.96 per cent (`1,392.62 crore) from 1.19 per cent (`1,569.28 crore).