Saturday 20 July 2013

Federal Bank Q1 net plunges 44%, way below market estimate



South based private sector lender - Federal Bank 's first quarter (April-June, FY14) net profit plunged more than 44 percent year-on-year to Rs 106 crore on the back of a huge surge in provisions and contingences that jumped three-times to Rs 245 crore as against Rs 63 crore a year ago.The net interest income (NII) or the difference between interest earned and paid out, rose nearly 4 percent to Rs 510 crore. The earnings were way below the market expectations. According to a CNBC TV18 poll estimate, net profit was expected to grow by 6 percent instead of a dip.

For More Detail – Call Here 
Hotline: +91-92000-76111,Land line: +91-731-6008100



No comments:

Post a Comment

 

Sample text

Sample Text