Federal Bank Q3 net soars 98.11%.

>> Friday, January 16, 2009

Federal Bank, one of the oldest private sector banks in India, reported a phenomenal rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the bank rose 98.11% to Rs 2,038.90 million from Rs 1,029.20 million in the same quarter previous year.

Interest earned for the quarter rose 35.11% to Rs 8,764.20 million, while total income for the quarter jumped 41.93% to Rs 10,412.30 million, when compared with the prior year period.

During the quarter, the bank reported earnings of Rs 11.92 a share, a decline of 0.83% over the prior year period.

Quarterly Results - Standalone (Rs in mn)
As at Dec - 08 Dec - 07 %Change
Interest Income 8,764.20 6,486.60 35.11
Net Profit 2,038.90 1,029.20 98.11
Basic EPS 11.92 12.02 (0.83)