After the company said it expects some challenges on some of their exposures in the near term, shares of RBL Bank plunged over 12 per cent.
Despite the bank reported a 41 per cent rise in Year-on-Year at profit of Rs 267.10 crore for the quarter ended June 30 next to Rs 190 crore in the period last year. During the quarter which is under review, Net Interest Income (NII), other income and operating profit of the bank jumped 48 per cent, 48 per cent and 43 per cent, respectively.
Vishwavir Ahuja, MD & CEO, RBL Bank said: “The Bank has had a good quarter of strong performance and has continued to maintain its growth momentum and improvement in operating metrics. However, given the difficult environment, we do expect to face some challenges on some of our exposures in the near term. At the same time, given the strong momentum in our businesses, we do expect to maintain healthy profitable growth over the coming quarters.”
Read EquityPandit’s Nifty Bank Outlook for the Week