Q2 FY2021 Results: RBL Bank posts profit of Rs 152.43 crore, 185% growth YoY

The company reported a net profit of Rs 152.43 crore for the September quarter, a 185% growth YoY. It had posted a profit of Rs 53.42 crore in the corresponding quarter previous year.

RBL Bank Ltd. on Wednesday announced its Q2 FY2021 results. The company reported a net profit of Rs 152.43 crore for the September quarter, a 185% growth YoY. It had posted a profit of Rs 53.42 crore in the corresponding quarter previous year.

The private bank posted a total income of Rs 2,613.89 crore during the Q2 FY2021 period as compared to Rs 2,633.65 crore during the FY2020 period. In the previous quarter, it posted Rs 2654.88 crore revenue.

The Mumbai based company has reported diluted Earnings per Share (EPS) of Rs 2.98 for the period. It had posted EPS of Rs 3.03 for the previous Q1 June period.

The company in its BSE regulatory filing stated, “Overall capital adequacy at 16.50% with Common Equity Tier 1 ratio of 15.12% at the end of Q2FY21. Average Liquidity Coverage Ratio at 171% for Q2FY21. Gross NPA ratio at 3.34% (3.45% in Q1FY21), Net NPA at 1.38% (1.65% in Q1FY21), Provision Coverage Ratio at 74.75% vs 70.46% in Q1FY21 (58.45% in Q2FY20); 11% increase in 2 quarters.”

Mr. Vishwavir Ahuja, MD & CEO, RBL Bank said “We are seeing growth revival especially in our retail businesses and being well positioned on capital and liquidity we are growing in our chosen segments. As a Bank, we have again achieved a robust set of numbers in this quarter and prudently added to our provisioning buffers. Despite the positive signals, we continue to focus on balance sheet protection, risk mitigation and capital conservation in the near term.”

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