RBL Bank Ltd. reported a sharp jump in profit for the December quarter, with net profit rising to Rs 214 crore compared with Rs 32.6 crore in the year-ago period.
Net interest income increased 4.6% year-on-year to Rs 1,657 crore, from Rs 1,585 crore.
Asset quality improved on a sequential basis. Gross NPA declined to 1.88% from 2.32% in the previous quarter, while net NPA eased to 0.55% from 0.57% quarterly. Provisions, however, rose 28% annually to Rs 639 crore, compared with Rs 500 crore a year ago.
RBL Bank Q3 Highlights (YoY)
- Profit at Rs 214 crore versus Rs 32.6 crore
- NII up 4.6% at Rs 1,657 crore versus Rs 1,585 crore
- Provisions up 28% at Rs 639 crore versus Rs 500 crore
- Net NPA at 0.55% versus 0.57% (QoQ)
- Gross NPA at 1.88% versus 2.32% (QoQ)
This is a developing story.
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