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India's Federal Bank slips; provisions jump

Source : REUTERS
Last Updated: Mon, Apr 29, 2013 09:36 hrs
An employee arranges Indian currency notes at a cash counter inside a bank in Agartala

Federal Bank's shares fall after the lender reported disappointing March quarter results on Saturday.

Net profit was at 2.22 billion rupees in the quarter ended March 31, versus 2.38 billion rupees in the same period last year, the firm said in a regulatory filing.

Provisions rose more than six-fold to 981.8 million rupees in the quarter.

Shares of the bank down 3 percent while the broader BSE Sensex up 0.29 percent.


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