Federal Bank’s third quarter profits nearly double

January 16th, 2009 - 6:14 pm ICT by IANS  

Mumbai, Jan 16 (IANS) The Kerala-based Federal Bank Friday said its net profit was up 98 percent for the third quarter this fiscal.In a regulatory statement, the bank said it posted a net profit of Rs.2.04 billion in the quarter ended Dec 31, compared to Rs.1.03 billion in the corresponding period the previous fiscal.

The bank’s total income grew over 41 percent to Rs.10.41 billion from Rs.7.34 billion in Q3 last year.

While income from sources other than core function rose 94 percent from Rs.849.5 million last to stand at Rs.1.65 billion this year, operating profit grew more than 129 percent to Rs.3.84 billion from Rs.1.67 billion earlier.

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