The quarterly earnings season is in full swing and bank major names are rolling in their results for the recently concluded quarter. Mumbai-based lender RBL bank released its quarterly results (Q3FY25) for the three-month period that ended in December.
RBL Bank Profit Nosedives
In an exchange filing the bank revealed that its net profits have seen steep decline. According to the filing, the net profit for the October-December quarter went down to Rs 32.63 crore.
This is about monumentally lower than the previous quarter or Q2 of FY, when the bank had managed to garner a net profit after taxation of Rs 222.52 crore. In the same quarter of the previous cycle, that is Q3 of FY24, the net profit after tax stood at Rs 233.09 crore.
This marks a month-over-month decline of a colossal 85.33 per cent in the company’s net profit.
Total Interest Earned Rises
Meanwhile, when it comes to total interest earned in the quarter, RBL Bank has seen a slight uptick. The bank accrued interests of Rs 3,536.33 crore. This is higher than the previous quarter’s Rs 3,530.93 crore.
While the lender’s profit went on a free fall in the last quarter of 2024 calendar year, its overall income saw a minor uptick.
Total Income Upticks
The total income of RBL for the quarter that ended on December 31, 2024, increased to Rs 4,609.66 crore, compared to previous quarter’s Rs 4,458.29 crore. However, the operating expenses also rose from Rs 1,632.44 crore to the recent quarter’s Rs 1,661.76 crore.
The bank’s Gross NPA also rose to Rs 2,701.00 crore from the Q2FY25’s Rs 2,581.08 crore.
In addition to that, the total financial indebtedness of the listed entity, including short-term and long-term debt stood at Rs 12,791.27 crore.
It now remains to be seen how the company shares react in the equity markets on Monday, January 20. The shares closed at Rs 155.24, declining by 2.05 per cent or Rs 3.25. This result could add to the current trend of stock price decline.
