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The first set of quarterly earnings under Federal Bank's new Managing Director K.V. Subramanian is expected to be a modest affair. The private sector bank is expected to report a modest year-on-year increase in net profit in Jul-Sept on the back of a likely rise in operating expenses and a fall in other income. Federal Bank's net profit is projected to rise 4.4% on year to INR 9.95 billion in Jul-Sept, according to an average of estimates from 15 brokerages. Sequentially, net profit is seen down 1.4%.
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