RBL Bank on Thursday reported a jump of 44.9% in net profit at Rs141.02 crore for the first quarter ended June on healthy growth in core income.
The private bank had registered a net profit of Rs97.34 crore during the April-June quarter of previous fiscal. Total revenue for the June quarter of 2017-18 increased by 26% to Rs1,299.70 crore compared to Rs 1,031.23 crore in the same quarter last year, the bank said in a regulatory filing.
The core income from interest earnings of the bank showed a healthy growth of 20.7% in the June quarter at Rs 1,042.78 crore compared to Rs863.69 crore in the year ago quarter.
Asset-wise, there was a marginal uptick in gross non- performing assets (NPAs) to 1.46% as on June 30, 2017 from 1.13% a year ago.
Net NPAs or bad loans also rose to 0.81% from 0.66%. The bank kept aside a higher Rs 94.46 crore to provide for bad loans and contingencies against Rs 42.60 crore a year ago.
The bank said its board of directors at a meeting held on July 7 approved issuing over 3.26 crore shares on preferential basis at a price of Rs515 per equity to raise Rs 1,679.99 crore.
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