The lender has surpassed 1000 Cr Milestone for Second Straight Quarter.
Federal Bank announced the Financial Results for the quarter ended 30th September 2024. The key highlights of the results on a Y-o-Y basis are as follows:
WORKING RESULTS AT A GLANCE (Rs.in Cr)
Particulars | Q2 | Q2 | % y-o-y growth |
| 2024-25 | 2023-24 | |
Net Profit | 1056.69 | 953.82 | é10.79% |
Total Income | 7541.23 | 6185.70 | é21.91% |
Operating Profit | 1565.36 | 1324.45 | é18.19% |
Net Interest Income | 2367.23 | 2056.42 | é15.11% |
Total Business | 499418.83 | 425685.12 | é17.32% |
Strong Growth – Resilient Balance Sheet Performance
Total Business of the Bank reached Rs. 499418.83 Cr registering a growth of 17.32 % as on 30th September 2024.
Total Deposits increased from Rs. 232868.43 Cr as on 30th September 2023 to Rs. 269106.59 Cr as on 30th September 2024.
On the Asset side, Net advances increased from Rs 192816.69 Cr as on 30th September 2023 to Rs. 230312.24 Cr on 30th September 2024. Retail Advances grew by 17.24 % to reach Rs. 72701.75 Cr. Business Banking advances grew by 19.26% to reach Rs.19121.18 Cr. Commercial Banking grew by 24.34 % to Rs. 24493.35 Cr. Corporate Advances registered a growth of 10.48 % to reach Rs. 77953.84 Cr. The CV/ CE advances grew by 43.83 % to reach Rs.3932.30 Cr.
Highest Ever Operating Profit and Net Profit
The Bank registered Operating Profit of Rs. 1565.36 Cr and Net Profit of Rs. 1056.69 Cr for the quarter ended 30th September 2024. Operating profit recorded a growth of 18.19 % on a year-on-year basis. With this, the Bank crossed the Rs 1000 Crore Net Profit for the second consecutive quarter with Rs 1010 Cr in the previous quarter.
Remarkable Income Parameters
Net Interest Income grew 15.11 % from Rs. 2056.42 Cr to Rs. 2367.23 Cr as on 30th September 2024. Total income of the Bank grew 21.91 % to reach Rs. 7541.23 Cr. Earnings per share (EPS) annualized is Rs 17.11.
Key Ratios
ROA & ROE of the Bank for the quarter stood at 1.28 % and 13.65 % respectively.
Robust Asset Quality
Gross NPA of the Bank as at the end of Q2 FY25 stood at Rs. 4884.49 Cr, which as a percentage to Gross Advances stood at 2.09 %. The Net NPA and Net NPA as a percentage to Net Advances as on 30th September 2024 stood at Rs. 1322.29 Cr and 0.57 % respectively. Provision Coverage Ratio excluding Technical Write Off was 71.82 %.
Net Worth & Capital Adequacy
Net worth of the Bank increased from Rs. 26032.07 Cr to Rs. 31108.20 Cr, as on 30th September 2024. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood at 15.20 % as at the end of the quarter.
Footprint
The Bank has 1533 banking outlets and 2052 ATMs and Cash Recyclers as on 30th September 2024.
MAJOR FINANCIAL INDICATORS (Standalone Nos) (Rs. in Cr)
Business Figures | As on 30.09.2024 | As on 30.09.2023 | Growth (%) |
Total Deposits | 269106.59 | 232868.43 | é15.56 % |
Net Advances | 230312.24 | 192816.69 | é19.45 % |
CB Advances | 24493.35 | 19699.01 | é24.34 % |
Retail Advances | 72701.75 | 62009.00 | é17.24 % |
Corporate Advances | 77953.84 | 70558.63 | é10.48% |
Business Banking Advances | 19121.18 | 16032.55 | é19.26 % |
Agri Advances | 32487.00 | 25106.76 | é29.40 % |
Capital |
|
|
|
Equity Capital | 490.45 | 470.32 |
|
Net Worth | 31108.20 | 26032.07 | é19.50 % |
Capital Adequacy (%) | 15.20 | 15.50 |
|
Tier I (%) | 13.82 | 13.79 |
|
Tier II (%) | 1.38 | 1.71 |
|
