RBL Bank tumbles nearly 14% post Q1 nos as lender signals challenges ahead

For the June quarter, RBL Bank posted a 41 per cent year-on-year (YoY) rise in net profit or PAT (profit after tax) at Rs 267.1 crore. Sequentially, the numbers grew 8 per cent.

Shares of RBL Bank tanked as much as 13.75 per cent in the afternoon session on Friday after releasing June quarter results for the financial year 2019-20 (FY20). The lender reported healthy set of numbers for the period under review but said it expects to face some challenges on some of its exposures in the near term. 

Reacting to it, investor sentiment took a hit, thus dragging the stock nearly 14 per cent lower during the trade. 

For the June quarter, RBL Bank posted a 41 per cent year-on-year (YoY) rise in net profit or PAT (profit after tax) at Rs 267.1