Federal Bank on Saturday reported two-fold jump in net profit for the March quarter at Rs381.5Crore due to higher interest income and lower provisioning. The bank had posted a standalone net profit of Rs144.99-Crore in the Q4FY2018 fiscal.

Total income of the private lender rose to Rs.3444-Crore in the Q4FY2018-19, from Rs.2862-Crore in the corresponding period last fiscal. Provisioning for bad loans during the quarter trimmed to Rs.177.76-Crore, V/s Rs.371.53-Crore in the matching period of 2017-18. For the entire 2018-19 fiscal, the Bank reported a standalone net profit of Rs.1243.89-Crore, up 41.5pc from Rs.878.85-Crore in 2017-18.

On Friday, before announcing the results, the Federal Bank stock closed 3.77pc higher at Rs97.80 per share on the NSE and BSE. Based on encouraging result deliverance, further movements on Federal bank’s stocks will be matched out on Monday.