Federal Bank has reported a 67% increase in net profit at INR 903 crore ($121m) for the March quarter. The lender’s net interest income rose 25% YoY to INR 1,525 crore, which helped offset the impact of provisions, which rose to INR 117 crore from INR 75 crore YoY. The bank’s return on equity stood at an all-time high of 17.48%. Federal Bank’s total advances rose 20% YoY to INR 1.77 lakh crore; deposits grew 17% to INR 2.13 lakh crore.
