(Federal Bank branch in Bengaluru. Photo source: Federal Bank website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Federal Bank reported profit for the September quarter declined due to higher provisioning expenses, even as key asset quality ratios showed improvement on a sequential basis.

The lender reported a 9.6% fall in net profit for the September quarter to Rs 955.26 crore, compared with Rs 1,056.69 crore in the previous quarter, according to its statement to the exchanges.

Net interest income declined 19.9% quarter-on-quarter to Rs 1,896 crore from Rs 2,367 crore. Provisions rose sharply to Rs 363 crore, a 129.7% increase from Rs 158 crore registered in the year-ago period.

Federal Bank Q2 Results (Standalone, YoY)

Net profit down 9.6% to Rs 955.26 crore ver

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