Federal Bank falls despite reporting 25% rise in Q3 consolidated net profit
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Federal Bank is currently trading at Rs. 148.30, down by 4.70 points or 3.07% from its previous closing of Rs. 153.00 on the BSE.
The scrip opened at Rs. 153.95 and has touched a high and low of Rs. 155.25 and Rs. 147.80 respectively. So far 1725546 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 159.25 on 20-Dec-2023 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. 155.25 and Rs. 147.80 respectively. The current market cap of the company is Rs. 36712.99 crore.
The Institutions and Non-Institutions held 73.91% and 26.09%, stake in the bank respectively.
Federal Bank has reported results for third quarter ended December 31, 2023 (Q3FY24).
The bank has reported 25.28% rise in net profit at Rs 1006.74 crore for the quarter ended December 31, 2023 as compared to Rs 803.61 crore for the same quarter in the previous year. Total income of the bank increased by 32.72% at Rs 6592.66 crore for Q3FY24 as compared Rs 4967.25 crore for corresponding quarter of the previous year.
On consolidated basis, the bank reported 24.75% rise in its net profit at Rs 1063.24 crore for Q3FY24 as compared to Rs 852.28 crore for the same quarter in the previous year. Total income of the bank increased by 32.89% at Rs 6993.55 crore for Q3FY24 as compared Rs 5262.58 crore for corresponding quarter of the previous year.
