RBL Bank Q2 net up 165% to Rs 144 cr on higher NII, dip in provisions

Net interest margin flat at 4.34%, other income up 3% to Rs 456 cr

Private sector lender RBL Bank posted a 165 per cent rise in net profit to Rs 144 crore in second quarter ended September 2020 (Q2Fy21) on an increase in net interest income (NII) and dip in provisions and contingencies.

It had posted a net profit of Rs 54 crore in July-September 2019 (Q2fy20).

The RBL Bank stock closed flat at Rs 175.65 per share on BSE.

Its NII grew by seven per cent Rs 932 crore. The Net Interest Margin (NIM) was flat YoY at 4.34 per cent. Sequentially NIMs fell from 4.85 per cent in first quarter ended June