Good Q2 result catapults RBL Bank to new high

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RBL Bank rose 5.5% to Rs 329.95 at 10:35 on after net profit rose 34.3% to Rs 89.89 crore on 37.91% rise in total income to Rs 1071.04 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P Sensex was up 167.02 points or 0.6% at 28,151.39.

High volumes were witnessed on the counter. On BSE, so far 23.86 lakh shares were traded in the counter as against average daily volume of 2.47 lakh shares in the past one month. The stock hit a high of Rs 334.60 so far during the day, which is record high for the stock. The stock hit a low of Rs 317.15 so far during the day. The stock had hit a record low of Rs 273.70 on 31 August 2016. The stock had outperformed the market over the past one month till 19 October 2016, gaining 3.77% compared with 2.27% fall in the Sensex.

The large-cap bank has equity capital of Rs 369.81 crore. Face value per share is Rs 10.

RBL Bank’s gross non-performing assets (NPAs) stood at Rs 274.65 crore as on 30 September 2016 as against Rs 252.61 crore as on 30 June 2016 and Rs 161.61 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 1.1% as on 30 September 2016 as against 1.13% as on 30 June 2016 and 0.93% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 0.55% as on 30 September 2016 as against 0.65% as on 30 June 2016 and 0.48% as on 30 September 2015. The bank’s provisions and contingencies (excluding tax provisions) rose 122.33% to Rs 49.58 crore in Q2 September 2016 over Q2 September 2015.

Net Interest Income (NII) rose 59.5% to Rs 302.94 crore in Q2 September 2016 over Q2 September 2015. Net interest margin (NIM) rose to 3.41% in Q2 September 2016 as against 2.99% in Q2 September 2015.

RBL Bank debuted on stock exchanges on 31 August 2016.

RBL Bank is professionally managed and has no identifiable promoter.