Federal Bank Q4 net up 38% at Rs 238 cr

Federal Bank today reported a growth of 38 per cent in net profit at Rs 238 crore in the January-March quarter 2012 as compared with Rs 172 crore in the year ago period.

Provisions including taxes declined to Rs 135 crore in the quarter from Rs 179 crore in the same quarter last year.

Net Interest Income (difference between interest earned and interest paid) during the quarter rose by 10 per cent at Rs 491 crore (Rs 448 crore in fourth quarter FY11).

For the year ended March 31, 2012, net profit increased by 32 per cent at Rs 777 crore (Rs 587 crore in FY11).

Net non-performing assets (NPAs) as on March 31, 2012 stood at 0.53 per cent from 0.60 per cent last year. Capital Adequacy Ratio stood at 16.64 per cent from 16.79 per cent as on March 31, 2011.

Deposits increased by 14 per cent at Rs 48,937 while advances grew by 18 per cent at Rs 37,756 crore as on March 31, 2012.

Net Interest Margin (NIM) for the year stood at 3.79 per cent.

The bank’s board recommended a divedend of Rs 9 per share on face value Rs 10 as compared with Rs 8.50 per share for the previous year.