Federal Bank jumps on reporting 39% rise in Q1 consolidated net profit
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The Federal Bank is currently trading at Rs. 129.25, up by 2.45 points or 1.93% from its previous closing of Rs. 126.80 on the BSE.
The scrip opened at Rs. 128.75 and has touched a high and low of Rs. 129.80 and Rs. 126.70 respectively. So far 751771 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 143.35 on 16-Jan-2023 and a 52 week low of Rs. 96.10 on 14-Jul-2022.
Last one week high and low of the scrip stood at Rs. 136.40 and Rs. 126.45 respectively. The current market cap of the company is Rs. 26879.50 crore.
The Institutions and Non-Institutions held 70.72% and 29.28% stake in the company respectively.
Federal Bank has reported results for first quarter ended June 30, 2023 (Q1FY24). The Bank has reported 42.13% rise in its net profit at Rs 853.74 crore for the quarter under review as compared to Rs 600.66 crore for the same quarter in the previous year. Total income of the bank increased by 41.05% at Rs 5756.94 crore for Q1FY24 as compared Rs 4081.48 crore for the corresponding quarter previous year.
On consolidated basis, the bank has reported 38.68% rise in its net profit at Rs 891.74 crore for the quarter ended June 30, 2023 as compared to Rs 643.00 crore for the same quarter in the previous year. Total income of the bank increased by 41.06% at Rs 6091.08 crore for Q1FY24 as compared Rs 4318.17 crore for the corresponding quarter previous year.
