Fedbank Financial Service soars over 4% after firm announces strong Q2 numbers

Fedbank Financial Service Share Price: Fedbank Financial Service shares soared over 4 per cent in morning deals on BSE on Tuesday (December 12, 2023) after the company announced strong second-quarter numbers on Monday.

The stock of Fedbank Financial Service was trading higher by 4.66 per cent, or Rs 6.40, at Rs 143.85 at 10:49 am on Tuesday.

Fedbank Financial Service listed on the bourses on November 29.

This is the first quarterly results for the company after listing.

Though the company's gross non-performing assets (GNPA) was flat, it recorded its highest-ever quarterly profit in the second quarter on Monday.

The company's net income interest was up by 29.2 per cent, while its profit was also up by 25.1 per cent to Rs 207 crore.

Its net interest margin (NIM) was higher by 9.5 per cent.