RBL Bank Q4 profit rises 37% to Rs 178.12 cr

Private sector lender RBL Bank on Friday reported a rise of 37 per cent in its net profit at Rs 178.12 crore for the quarter ended March 2018. Its net profit in the corresponding January-March quarter of 2016-17 stood at Rs 130.13 crore.

Net interest income (NII) in the March quarter increased by 42 per cent to Rs 500.46 crore from a year ago, while income from other sources moved up by 32 per cent to Rs 311.98 crore, the bank said in a regulatory filing. Total income increased to Rs 1,534.69 crore during the March quarter of 2017-18 from Rs 1,222.87 crore in the same period of the previous fiscal.

For the entire 2017-18 fiscal, bank’s net profit rose to Rs 635.09 crore as against Rs 446.05 crore in the preceding year, an increase of 42 per cent. Its full-year income rose to Rs 5,575.76 crore in 2017-18 from Rs 4,468.62 crore in preceding year.

NII rose by 45 per cent to Rs 1,766.29 crore and income from other sources were up 41 per cent to Rs 1,068.19 crore during the year.

The net interest margin — a key gauge of profitability — for the year improved to 3.80 per cent from 3.29 per cent in 2016-17. “Bank’s growth in advances portfolio continued to be robust at 37 per cent on year-on-year basis,” said the lender in the filing.

Gross NPA increased to 1.40 per cent of the gross advances as on March 31, 2018, against 1.20 per cent as on March 31, 2017. Net NPA increased to 0.78 per cent from 0.64 per cent.