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.
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.