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

RBL Bank Ltd reported 2.53% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs2,727.28cr

January 29, 2022 1:47 IST | India Infoline News Service
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%

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