Federal Bank Limited (NSE: FEDERALBNK) reported a Revenue from Operations of ₹4,697.5 Crores, a significant boost of 30.3% growth from the previous year. The Revenue was driven by the Retail Banking segment which increased by 28.4% up to ₹3,217.79 Crore year on year. Consolidated Net Profit for the business increased by 56% year over year, to ₹843.25 Crore from ₹539.77 Crore. The Net Profit margin is at 17.9%, expanded by ~300 basis points year on year. The company has further managed its expenses very well as the employee cost remained flat compared to the last year.
Moreover, the cost to income ratio has improved to 48.84% on year. Furthermore, the EPS soared by 55% on account of increasing bottom line, during the same period. Federal Bank shares on the NSE decreased 1.09% on Tuesday, due to early gains. The share price closed at ₹136.5 after touching a high of ₹143 on Monday.
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