Federal Bank Q4 profit rises 62% to ₹954cr

Mumbai: Federal Bank’s consolidated net profit in the March quarter jumped 62% to Rs 954 crore, driven by profit-booking on the sale of investments. The private lender’s net profit for FY23 increased to Rs 3,165 crore from the Rs 1,970 crore in the previous year. For Q4, its core net interest income grew 25% to Rs 1,909 crore. However, it was the other income line, which reported 58% growth to Rs 734 crore for the quarter, which helped it post highest-ever profit. agencies