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  1. RBL Bank Q4 Results: Net profit jumps 30% YoY at ₹353 crore, NII up 18%

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RBL Bank Q4 Results: Net profit jumps 30% YoY at ₹353 crore, NII up 18%

Upstox

2 min read | Updated on April 27, 2024, 12:52 IST

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SUMMARY

RBL Bank Q4 Results: The gross NPA ratio came down by 47 basis points to 2.65%, whereas the net NPA ratio declined by 6 basis points to 0.74%.

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Year-to-date, the shares of RBL Bank have declined by 6.4%

Year-to-date, the shares of RBL Bank have declined by 6.4%

Mumbai-based private lender RBL Bank has registered a net profit of ₹353 crore in the fourth quarter of financial year 2023-24 (Q4FY24), marking a growth of 30% as against the year-ago period, a regulatory filing showed on Saturday, April 27.

In the January-March quarter of FY23, the bank had reported a net profit of ₹271 crore.

The net interest income -- the difference between interest earned on loans and advances and interest paid on deposits -- grew by 18% year-on-year (YoY) to ₹1,599.8 crore in Q4FY24, as against ₹1,357 crore in Q4FY23.

The net profit, at ₹353 crore, surpassed the estimate of ₹320.7 shared by CNBC TV-18 citing its poll of analysts. The NII, however, fell short of the estimate of ₹1,604.7 crore.

RBL Bank's asset quality improves

The gross non-performing assets (NPA) ratio came down by 47 basis points to 2.65% in the quarter ended March 2024, as compared to 3.12% in the preceding December 2023 quarter.

The net (NPA) ratio declined by 6 basis points to 0.74% during the quarter under review, from 0.80% in Q3FY24.

In absolute terms, the gross NPA of the bank stood at ₹2,271 crore in the fourth quarter, improving by 11% from ₹2,551 crore in the third quarter.

The net NPA declined to ₹619.3 crore in Q4FY24, down 2.6% as against ₹635.6 crore in Q3FY24.

In the last trading session on April 26, RBL Bank's shares settled 1.27% higher at ₹266.3 apiece. Year-to-date, the stock has plunged by 6.4%.

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