Federal Bank shares leaped 8 per cent on the Bombay Stock Exchange on Tuesday morning, reaching 199.55 apiece and 7.83 per cent on the NSE to reach 199.49 per stock.
This comes after the lender on Monday reported an 11 per cent rise in net profit in the second quarter ending Septemeber. It has recorded Rs 1,057 crore net profit in Q2 FY25 compared to Rs 954 crore in the year-ago quarter.
Federal Bank has increased its total income to Rs 7,541 crore during the September quarter comapred to Rs 6,186 crore in the same period last year.
The bank reported an interest income of Rs 6,577 crore during the quarter, higher than Rs 5,455 crore in the same period a year earlier.
The net interest income (NII) of the bank surged 15 per cent to Rs 2,367 crore compared to Rs 2,056 crore last year.
Gross non-performing assets (NPAs) of Federal Bank slumped to 2.09 per cent of the gross loans by September end from 2.26 per cent a year ago. Net NPAs or bad loans have moderated to 0.57 per cent from 0.64 per cent at the end of the second quarter.