Federal Bank on Saturday reported a 35.8 per cent fall in its net profit at Rs141.39 crore for the first quarter of 2015-16.
The bank's net profit stood at Rs220.23 crore in the same quarter of the previous fiscal. Total income of the bank increased to Rs2,107.09 crore during the quarter under review, from Rs1,928.04 crore in the year-ago period, Federal Bank said in a BSE filing. Provisioning towards bad loans and contingencies were raised substantially to Rs153.10 crore during the quarter as against Rs22.08 crore set during the same period, a year ago.
The bank's gross non-performing assets (NPAs) or bad loans rose to 2.59 per cent of gross advances during the quarter as against 2.22 per cent in the same period of the previous fiscal. Net NPAs also increased to 0.98 per cent of net advances during the period under review, while it was at 0.68 per cent in the same period of the last fiscal.