Federal Bank stock plunges 5 per cent, PAT declines 17.8 per cent QoQ
Amir Shaikh / 26 Jul 2017
The bank’s total deposits during the quarter increased 18.13 per cent to Rs 95,838.84 crore as compared to Rs 81,132.11 crore in Q1FY17.
Private lender Federal Bank reported its Q1FY18 results today.
The bank’s net interest income (NII) for the quarter registered a 15.7 per cent YoY growth to Rs. 801.1 crore, while on QoQ basis, its NII declined 5 per cent from Rs 842.9 crore in Q4FY17.
The bank’s GNPAs as on June 30, 2017 stood at Rs 1867.94 crore, which is 2.42 per cent as a percentage of gross advances. Further, provision coverage ratio of the bank stands at 70.26%. During the quarter, capital adequacy ratio (CAR) of the bank, as per Basel III norms, stood at 15.28%.
The bank reported PAT of Rs 210.5 crore for the quarter, as against PAT of Rs 256 crore in the last quarter, which represent 17.8 per cent QoQ decline.
However, the bank reported 25.8 per cent YoY rise in PAT from Rs 167.3 crore in corresponding quarter of the last year.
The bank’s total deposits during the quarter increased 18.13 per cent to Rs 95,838.84 crore as compared to Rs 81,132.11 crore in Q1FY17. Savings deposits grew 18.65% to reach Rs 26,896.39 crore. Also, its CASA rose by 20.33% YoY to reach Rs 32,048.03 crore, while CASA for the quarter reached 33.44%. The bank’s advances for the quarter increased 29.08% YoY to Rs 76,307.11 crore as against Rs 59,117.68 crore in Q1FY17.
The Federal Bank stock opened for trading today at Rs 119.40, fell over 5 per cent to touch the day's low of Rs 112 and closed for the day at Rs 114.8, down by 3.6 per cent.
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