Net profit of RBL Bank records 352.5 Crore in Q4

By Team Startupcity  |  Saturday, 27 April 2024, 16:21 IST

Net profit of RBL Bank records Rs.352.5 Crore in Q4
On April 27, RBL Bank presented its fourth-quarter results. It made a net profit of 352.5 crore, which was higher than the channel CNBC-TV18’s prediction of 320.7 crore. The lender’s net profit for the March quarter was also 30.1 percent higher than its profit for the same period in the previous fiscal year, which was 271.1 crore rupees. 
In comparison to Street estimates of 1,604.7 crore, RBL Bank’s fourth-quarter net interest income (NII) was 1,599.8 crore. However, it was 17.9 percent higher than the 1,357.3 crore in the fourth quarter of the previous fiscal year.
In comparison to the same period the previous year, the lender’s gross net performing assets decreased by 11 percent to 2,271 crore in the fourth quarter of the fiscal year 2023-2024. The gross NPA percentage of RBL Bank decreased from 3.12 percent the previous year to 2.65 percent. Its net NPA too saw a 2.6 percent diminishing to 619.3 crore in the Walk quarter from the earlier year’s 635.6 crore. The lender’s net NPA Percent decreased by 6 basis points to 0.74 percent in the March quarter, from 0.8 percent the year before.
For the March quarter, its net interest margin (NIM) was 5.45 percent. The same was 5.52 percent in the previous quarter, and it was 5.62 percent in the fourth quarter of FY23. On Friday, April 26, RBL Bank shares closed at 266.3, a gain of 1.27 percent. The stock has increased by 11.87 percent in the past month, 17.73 percent in the past six months, and 67.12 percent in the past year.

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