RBL Bank's net profit up 39 pc to Rs 247 crore in Q4 FY19

RBL Bank Ltd said on Thursday that strong growth in net interest income during the quarter ending March 2019 boosted its net profit to Rs 247.2 crore, up 39 per cent from Rs 178.1 crore in the year-on period.

The net interest income, the difference between interest earned and interest expended, jumped 48 per cent to Rs 738.7 crore compared to Rs 500.5 crore in the fourth quarter of 2017-18.

Other income also rose to Rs 409.2 crore as against Rs 312 crore in the same period, marking an increase of 31 per cent.

The private sector lender reported gross NPA ratio of 1.38 per cent in March quarter of 2018-19 as compared to 1.4 per cent in the same period of previous fiscal. Net NPA ratio however declined to 0.69 per cent from 0.78 in Q4 FY18.

For the entire fiscal ending March 2019, the net interest income was up 44 per cent to Rs 2,539.5 crore and net profit increased 37 per cent to Rs 867 crore.

The RBL's board recommended a dividend of Rs 2.70 per equity share of Rs 10 each.

The board also approved raising of funds aggregating up to Rs 3,500 crore, including through issuance of equity shares, depository receipts and other securities.