RBL Bank clocks ~551% y-o-y growth in Q2FY23 PAT on a low base; stock slumps ~4%

25 Oct 2022 , 10:32 AM

RBL Bank Limited announced its unaudited results for the quarter and half year ended September 30, 2022. The company has logged revenue of Rs1,648 crore, up by 9% yoy.

Bank’s Net interest income registered a growth of 16% yoy at Rs1,064 crore.

It reported 551.61% yoy growth in its Net Profit for Q2FY23 at Rs202 crore against Rs31 crore in the previous corresponding quarter. It jumped marginally against the previous quarter’s profit of Rs201 crore.

Bank further highlighted that its total deposits jumped by 5% yoy at Rs79,404 crore. CASA grew at Rs28,718 crore, up by 7% yoy. CASA ratio came in at 36.20% in Q2FY23 as compared to 35.40% in Q2FY22.

Net advances increased 12% year on year and 4% sequentially to Rs62,942 crore.

The gross NPA ratio improved to 3.80% from 4.08% as of June 30, 2022, while the net NPA ratio increased to 1.26% from 1.16% as of June 30, 2022.

The bank has 507 bank branches and 1,204 business correspondent branches, of which 289 are banking outlets, as of September 30, 2022. RBL Finserve Limited, a wholly-owned subsidiary of the bank, is responsible for 821 business correspondent branches.

At around 10.35 AM, RBL Bank was trading at Rs122 down by 4.09% from its previous closing of Rs127.20 on the BSE. The scrip opened at Rs127.45 and touched intraday high and low of Rs127.50 and Rs119.45 respectively.

For feedback and suggestions, write to us at [e-mail]