RBL Bank Q1 net profit up 45% to Rs141 crore

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New Delhi: On Thursday RBL Bank (Ratnakar Bank Limited) accounted a 45% gain in net profit to Rs141.02 crore for the first June quarter on healthy growth in core income. The private bank reported a net profit of Rs 97.34 crore throughout the April-June quarter of preceding fiscal.

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The bank stated in a regulatory filing that, the total Q1 revenue for 17-18 augmented by 26% to Rs1,299.70 crore contrast to Rs 1,031.23 crore in the similar quarter previous year.

The core income from interest earnings of the bank demonstrated an expansion of 20.7% in the first quarter ended June at Rs 1,042.78 crore contrasts to Rs863.69 crore in the year before quarter.

Asset-wise, there was a marginal uptick in gross non- performing assets (NPAs) to 1.46% as on 30th June, 17 from 1.13% a year before.

The bank further added that its board of directors at a gathering conducted on July 7 approved issuing over 3.26 crore shares on preferential basis at a price of Rs515 per equity to gain Rs 1,679.99 crore. Shares of the bank concluded 0.32% up at Rs 539.65 on BSE.

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