In early morning trading on January 20, RBL Bank witnessed a 4 percent surge in its shares following the release of its fiscal third-quarter results, which, despite missing street projections, showcased resilience. At 9:20 am, the stock was valued at Rs 277.
RBL Bank reported a 12 percent year-on-year growth in its standalone net profit for October-December, reaching Rs 233 crore. However, excluding the contingent provision on AIF investment, which amounted to Rs 115 crore, the net profit surged by an impressive 53 percent YoY, totaling Rs 319 crore. The bank allocated Rs 115 crore for the provision on AIF investments.
The net interest income demonstrated a robust 21 percent year-on-year increase, reaching Rs 1,546 crore. Additionally, the net interest margin expanded to 5.52 percent, highlighting the bank’s positive performance in key financial metrics.
