Active Stocks
Tue Mar 19 2024 09:51:06
  1. Tata Consultancy Services share price
  2. 4,045.00 -2.41%
  1. Tata Steel share price
  2. 151.40 1.20%
  1. NTPC share price
  2. 314.00 -0.99%
  1. HDFC Bank share price
  2. 1,444.35 -0.13%
  1. ITC share price
  2. 417.90 0.12%
Business News/ Companies / Company Results/  RBL Bank Q1 net profit rises 40.5% to 267 crore
BackBack

RBL Bank Q1 net profit rises 40.5% to ₹267 crore

Net interest income increased 47.88% to ₹817.32 crore during the quarter, against a year ago
  • Gross NPAs, as a percentage of total advances, were at 1.38% in the June quarter, and 1.40% in the year-ago period
  • Provisions during the quarter increased 51.89% to ₹213.18 crore, from ₹140.35 crore in the year-ago quarter (Mint file)Premium
    Provisions during the quarter increased 51.89% to 213.18 crore, from 140.35 crore in the year-ago quarter (Mint file)

    Mumbai: RBL Bank Ltd on Friday said its first-quarter net profit rose 40.52% on the back of higher net interest income and other income.

    The bank posted a net profit of 267.05 crore for the three months ended 30 June, against 190.04 crore in the year-ago period. Profit was higher than 262 crore estimated by a Bloomberg poll of 12 analysts.

    Net interest income, or the difference between interest earned on loans and that paid on deposits, increased 47.88% to 817.32 crore during the quarter, from 552.7 crore in the corresponding period last year.

    Other income, which includes core fee income, rose 47.62% to 481.21 crore in the three months from 325.97 crore a year ago.

    Gross non-performing assets (NPAs), as a percentage of total advances, were at 1.38% in the June quarter, and 1.40% in the year-ago period.

    Provisions during the quarter increased 51.89% to 213.18 crore, from 140.35 crore in the year-ago quarter. During the January-March period, the bank had set aside 199.97 crore in provisions.

    Post-provision, the net NPA ratio was at 0.65%, against 0.69% in the March quarter, and 0.75% in the year-ago period.

    At 01.06 pm, shares of the bank lost 4.96%, while the Sensex lost 1.04%.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
    More Less
    Published: 19 Jul 2019, 01:19 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App

    Chat with MintGenie