Federal Bank's profit jumps 63% y-o-y to ₹600 crore, share price rises

The share price of private sector lender Federal Bank rose by 1.54% to ₹98.80 after it reported a 63.5% increase in net profit in the April-June quarter to ₹600.66 crore. The bank had reported a profit of ₹367 crore in the same period last year. Meanwhile, its net interest income rose by 13% to ₹1,604.5 crore.