Federal Bank Q4 PAT remains flat at ₹906 crore

Federal Bank Ltd. reported Q4 net profit almost remained flat at ₹906.30 crore against ₹902.61 crore in the year ago period.

For the quarter ended 31 March, the bank’s Net Interest Income grew14.97% to ₹2195.11 crore.

The Board recommended a dividend of ₹1.2 per equity share with a face value of ₹2 for FY24.

In FY24, the bank’s total business grew 19.11% YoY to ₹4,61,937.36 crore.

Net advances rose to ₹209403.34 crore and total deposits grew 18.35% to ₹2,52,534.02 crore.

Total income of the bank for the quarter grew by 23.42% to ₹6,732.23 crore.

Gross Non-Performing Assets of the bank at the end of Q4 FY24 stood at ₹4,528.87 crore which as a percentage to Gross Advances stood at 2.13%.

The Net NPA as a percentage to Net Advances as on 31 March stood at ₹1,255.33 crore and 0.60% respectively. 

Provision Coverage Ratio excluding Technical Write Off was 71.08%.