New Delhi, July 24 (UNI) Private sector lender Federal Bank on Wednesday reported 18.25% year-on-year rise in net profit at Rs 1,009.53 crore for April-June quarter of the current financial year 2024-25.

The company had posted a profit of Rs 853.74 crore in the June quarter of the previous financial year 2023-24.

Net Interest Income (NII) of the bank grew 19.46% to Rs 2,291.98 crore in Q1 of current fiscal over Rs 1,918.59 crore in the Q1 of previous fiscal 2023-24.

The income of the bank rose 25.87% in Q1 of FY25 to Rs 7,246.06 crore from Rs 5756.94 crore in the Q1 of the preceding financial year.

Gross non-performing asset (NPA) of the lender as at the end of Q1 FY25 stood at Rs 4738.35 crore which as a percentage to Gross advances stood at 2.11%.

Total business of the bank reached Rs 48,6871.33 crore registering a growth of 19.92 % as on 30th June 2024.

“I am encouraged that we have had a resoundingly strong start to FY 25 and delivered our highest ever quarterly profits. With an industry leading growth in both deposits and assets we are gaining share consistently," said Shyam Srinivasan, Managing Director and CEO of Federal Bank.

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