Federal Bank was immensely helped by the sharp rise in other income and lower interest income to approximately double its net profit for the third quarter ending December 31, 2009 to Rs 203.89 cr from Rs 102.92 cr the previous fiscal.

The net profit of the bank had a rise by 45.67% to Rs 386.32 crore for the nine month ended December 31.

There was an increase by 94% to Rs 164.81 cr from Rs 84.95 cr the previous year in the other income of the bank for the quarter while an increase by 35.11% was noted in the interest income.

As far as the interest expenses of the bank are concerned, they grew marginally by 10.5% to Rs 491.83 cr. At the Bombay Stock Exchange, the bank scrip was up by 9.51% to Rs 156.

The bank also witnessed growth in its gross and net non performing assets. While net NPAs rose to 0.33% from 0.29%, gross NPAs increased to 2.83% from 2.76%.