RBL Bank Q3 PAT down -26.24% at Rs121.61cr on surge in employee costs and other expenses

29 Jan 2022 , 01:49 AM

RBL Bank Ltd reported 2.53% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs2,727.28cr. On a sequential basis, the revenues were higher for the quarter by 3.74%.

During the quarter, The company reported lower revenues from corporate banking and from treasury. However, income from retail banking was higher on yoy basis.

The EBIT situation is a little more telling. Corporate banking EBIT turned around to profit. However, there was a sharp fall of around 50% in retail banking EBIT and a 90% fall in treasury EBIT.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was down -26.24% at Rs121.61cr due to a 58% spike in other expenses and a small rise in employee costs.

Provisions were lower on a yoy basis but the sharp spike in other expenses to over Rs720cr is neither explained nor highlighted adequately.

Net margins tapered from 6.20% in the Dec-20 quarter to 4.46% in the Dec-21 quarter. Net margins were higher sequentially compared to just 0.37% due to a spike in provisions in the Sep-21 quarter.

Financial highlights for Dec-21 compared yoy and sequentially

	RBL Bank Ltd
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 2,727.28	₹ 2,659.90	2.53%	₹ 2,629.08	3.74%
Net Profit (Rs cr)	₹ 121.61	₹ 164.88	-26.24%	₹ 9.72	1151.13%
Diluted EPS (Rs)	₹ 2.02	₹ 2.62		₹ 0.16
Net Margins	4.46%	6.20%		0.37%