RBL Bank slides after Q3 results

RBL Bank fell 2.99% to Rs 557.10 at 14:10 IST on BSE after net profit rose 36.21% to Rs 225.19 crore on 42.87% increase in total income to Rs 2012.99 crore in Q3 December 2018 over Q3 December 2017.

The result was announced during trading hours today, 28 January 2019.

Meanwhile, the S&P BSE Sensex was down 424.28 points, or 1.18% to 35,601.26.

On the BSE, 1.22 lakh shares were traded in the counter so far compared with average daily volumes of 48,000 shares in the past two weeks. The stock had hit a high of Rs 578.50 and a low of Rs 552.40 so far during the day. The stock hit a 52-week high of Rs 652 on 29 August 2018. The stock hit a 52-week low of Rs 438.80 on 23 October 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 695.54 crore as on 31 December 2018 as against Rs 644.97 crore as on 30 September 2018 and Rs 579.88 crore as on 31 December 2017.

The ratio of gross NPAs to gross advances stood at 1.38% as on 31 December 2018 as against 1.40% as on 30 September 2018 and 1.56% as on 31 December 2017.

The ratio of net NPAs to net advances stood at 0.72% as on 31 December 2018 as against 0.74% as on 30 September 2018 and 0.97% as on 31 December 2017.

The bank's provisions and contingencies rose 95.21% to Rs 160.68 crore in Q3 December 2018 over Q3 December 2017.

RBL Bank is one of India's fastest growing private sector banks with an expanding presence across the country. It currently services over 5.83 million customers through a network of 288 branches, 221 banking outlets and 390 ATMs spread across 21 Indian states and Union Territories.

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