Federal Bank climbs on reporting rise in Q4 consolidated net profit
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Federal Bank is currently trading at Rs. 167.85, up by 5.35 points or 3.29% from its previous closing of Rs. 162.50 on the BSE.
The scrip opened at Rs. 169.70 and has touched a high and low of Rs. 170.25 and Rs. 162.80 respectively. So far 2849887 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 170.25 on 2-May-2024 and a 52 week low of Rs. 120.90 on 26-Jun-2023.
Last one week high and low of the scrip stood at Rs. 170.25 and Rs. 153.35 respectively. The current market cap of the company is Rs. 41194.19 crore.
The Institutions and Non-Institutions held 73.73% and 26.27%, stake in the Bank, respectively.
Federal Bank has reported rise of 0.41% in its net profit at Rs 906.30 crore for the fourth quarter (Q4) ended March 31, 2024 as compared to Rs 902.61 crore for the same quarter in the previous year. Total income of the bank increased by 23.42% at Rs 6732.23 crore for Q4FY24 as compared Rs 5454.60 crore for the corresponding quarter previous year.
On consolidated basis, the bank has reported rise of 3.49% in its net profit at Rs 972.39 crore for fourth quarter ended March 31, 2024 as compared to Rs 939.57 crore for the same quarter in the previous year. Total income of the bank increased by 23.67% at Rs 7149.12 crore for Q4FY24 as compared Rs 5780.68 crore for the corresponding quarter previous year.
For the year ended March 31, 2024, the bank has reported 23.58% rise in its net profit at Rs 3720.60 crore as compared to Rs 3010.59 crore for the previous year. Total income of the bank increased by 32.05% at Rs 25267.53 crore for year under review as compared to Rs 19133.63 crore for year ended March 31, 2023.
For the year ended March 31, 2024, on the consolidated basis, the bank has reported 23.67% rise in its net profit at Rs 3927.53 crore as compared to Rs 3175.76 crore for the previous year. Total income of the bank increased by 32.27% at Rs 26781.95 crore for year under review as compared to Rs 20248.01 crore for year ended March 31, 2023.
