RBL's Q3FY19 profit surges 36 per cent to Rs 225 cr

RBL Bank on Monday reported a rise of 36 per cent in net profit at Rs 225.20 crore for December quarter of FY2018-19 on healthy margins and decline in bad loan proportion. It also reported a growth in revenue of 40 per cent YoY for Q3FY19. The private sector lender had registered a net profit of Rs 165.30 crore in October-December period of the previous financial year.

The net interest income was up 40 per cent at Rs 655.10 crore during December quarter 2018 as against Rs 467.30 crore in the year-ago period. The net interest margin improved YoY to 4.12 per cent in the reported quarter from 3.89 per cent.

The bank showed improvement with gross non-performing assets falling to 1.38 per cent of gross advances as on December 31, 2018 from 1.56 per cent in the year-ago period. Net NPAs or bad loans were also reduced to 0.72 per cent of net loans from 0.97 per cent a year ago.