RBL Bank Q1 Net Up 45% To Rs 141 Crore On Interest Income

Posted By:
Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    RBL Bank reported a jump of 44.9 per cent in net profit at Rs 141.02 crore for the first quarter ended June on healthy growth in core income. The private bank had registered a net profit of Rs 97.34 crore during the April-June quarter of previous fiscal.

    Total revenue for the June quarter of 2017-18 increased by 26 per cent to Rs 1,299.70 crore compared to Rs 1,031.23 crore in the same quarter last year, the bank said in a regulatory filing.

    RBL Bank Q1 Net Up 45% To Rs 141 Crore On Interest Income

    The core income from interest earnings of the bank showed a healthy growth of 20.7 per cent in the June quarter at Rs 1,042.78 crore compared to Rs 863.69 crore in the year ago quarter.

    Asset-wise, there was a marginal uptick in gross non- performing assets (NPAs) to 1.46 per cent as on June 30, 2017, from 1.13 per cent a year ago. Net NPAs or bad loans also rose to 0.81 per cent from 0.66 per cent.

    The bank kept aside a higher Rs 94.46 crore to provide for bad loans and contingencies against Rs 42.60 crore a year ago. The bank said its board of directors at a meeting held on July 7 approved issuing over 3.26 crore shares on preferential basis at a price of Rs 515 per equity to raise Rs 1,679.99 crore. Shares of the bank closed 0.32 per cent up at Rs 539.65 on BSE.

    Read more about: rbl bank
    Story first published: Thursday, July 20, 2017, 17:25 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more