Federal Bank Q1 Results: Net Profit Climbs 18% to ₹1,009.5 Crore, NII Jumps 20%
The stock has gained 24% so far this year and the lender has been delivering positive annual returns every year starting 2021.
Kochi-based Federal Bank Ltd. reported a robust performance for the first quarter of financial year 2025, showcasing significant growth in its financial metrics. The private sector lender's net profit surged by 18% year-on-year (YoY) to ₹1,009.5 crore, compared to ₹854 crore in the same quarter last year.
Key Financial Highlights:
- Net Profit: The net profit for Q1 FY25 stood at ₹1,009.5 crore, marking an 18% increase from ₹854 crore in Q1 FY24.
- Net Interest Income (NII): The bank's net interest income grew by 19.5%, reaching ₹2,292 crore, up from ₹1,918.6 crore in the corresponding quarter of the previous year.
In addition to the solid earnings performance, Federal Bank announced that its board has approved a plan to raise up to ₹6,000 crore through various securities. This move is aimed at bolstering the bank's capital base and supporting its future growth initiatives.
Management Changes and Outlook:
Federal Bank also shared that the Reserve Bank of India has approved the appointment of Krishnan Venkat Subramanian as the new Managing Director and CEO. Subramanian, who was previously the Joint Managing Director at Kotak Mahindra Bank until April 2024, will commence his three-year tenure at Federal Bank starting September 23, 2024.
Market Reaction:
Following the earnings announcement, shares of Federal Bank were trading 2.14% upper at ₹202.20 apiece on the NSE. Despite this slight dip, the stock has gained 24% so far this year and has been delivering positive annual returns since 2021.
Conclusion:
Federal Bank's strong Q1 performance highlights its resilient business model and effective management strategies. With a new leadership team poised to take charge and plans for significant capital raising, the bank is well-positioned to continue its growth trajectory. Investors and market watchers will be keenly observing how these developments unfold in the coming quarters.
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