{"id":135067,"date":"2022-10-24T04:21:22","date_gmt":"2022-10-24T08:21:22","guid":{"rendered":"https:\/\/44.250.171.167\/?p=135067"},"modified":"2022-10-24T04:21:24","modified_gmt":"2022-10-24T08:21:24","slug":"rbl-banks-reports-a-whopping-7-times-profit-growth-in-q2fy23","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/rbl-banks-reports-a-whopping-7-times-profit-growth-in-q2fy23\/","title":{"rendered":"RBL Banks reports a whopping 7 times profit growth in Q2FY23"},"content":{"rendered":"\n<p>RBL Bank, a Midcap private sector lender reported a standalone profit of INR 201.55 crore for the September quarter of FY23, growing 6.5 times from the year-ago period on a low base. The profit in Q2FY22 was hit by higher provisions for bad loans, while the growth was almost flat sequentially.<\/p>\n\n\n\n<p>The lender&#8217;s net interest income (NII) grew 16 percent year-on-year to Rs 1,064 crore during the July-September, with net interest margin rising 49 bps YoY to 4.55 percent, the bank told exchanges. The sequential growth in net interest income was 3.6 percent and NIM expanded 19 bps.<\/p>\n\n\n\n<p>The bank reported 12 percent year-on-year credit growth at INR 62,942 crore during the quarter, while deposits increased by 5 percent to INR 79,404 crore. There was a considerable decline in provisions and contingencies at INR 241 crore, a YoY drop of 26 percent and 3 percent on a sequential basis.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"748\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/23d26ea5-f734-4a29-8829-6c57d859ec45-748x1024.png\" alt=\"\" class=\"wp-image-135068\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/23d26ea5-f734-4a29-8829-6c57d859ec45-748x1024.png 748w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/23d26ea5-f734-4a29-8829-6c57d859ec45-219x300.png 219w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/23d26ea5-f734-4a29-8829-6c57d859ec45-768x1051.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/23d26ea5-f734-4a29-8829-6c57d859ec45-1122x1536.png 1122w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/23d26ea5-f734-4a29-8829-6c57d859ec45-1496x2048.png 1496w\" sizes=\"auto, (max-width: 748px) 100vw, 748px\" \/><\/figure>\n\n\n\n<p>The pre-provision operating profit also dropped in double-digit &#8211; by 26 percent year-on-year to INR 512 crore for the quarter, and the sequential fall was 3 percent. On the asset quality front, gross non-performing assets as a percentage of gross advances improved to 3.80 percent for the September FY23 quarter, down 28 bps sequentially, but there was a 10 bps QoQ increase in net NPA at 1.26 percent, the bank said.<\/p>\n\n\n\n<p>The provision coverage ratio including technical write-offs dropped to 84.3 percent as of September FY23, down from 85.3 percent in the previous quarter, but improved from 76.6 percent YoY. In the first half of FY23, RBL Bank recorded a standalone profit of INR 403 crore against a loss of INR 429 crore in the same period last year, with a significant fall (76 percent YoY) in provisions and contingencies at INR 494 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RBL Bank, a Midcap private sector lender reported a standalone profit of INR 201.55 crore for the September quarter of FY23, growing 6.5 times from the year-ago period on a low base. The profit in Q2FY22 was hit by higher provisions for bad loans, while the growth was almost flat sequentially. The lender&#8217;s net interest [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":49407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,392,1],"tags":[10389,8200,10164],"class_list":["post-135067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","category-finance-stocks","tag-corporate-loan","tag-retail-banking","tag-wholesale-banking"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":139456,"url":"https:\/\/alphastreet.com\/india\/yes-bank-reported-80-drop-in-its-q3fy23-net-profit\/","url_meta":{"origin":135067,"position":0},"title":"Yes Bank reported 80% drop in its Q3FY23 net profit","author":"Chirag Gupta","date":"January 30, 2023","format":false,"excerpt":"Private sector lender YES Bank today reported 80.66% on-year drop in its standalone December quarter net profit at INR 51.52 crore due to ageing related provisions. Its net interest income improved 11.7% YoY at INR 1,971 crore in Q3. Its net interest margin (NIM) in Q3 stood at 2.5% up\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/91817c39-554c-43f1-b7bb-110cb3ae82d4-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":141344,"url":"https:\/\/alphastreet.com\/india\/yes-banks-profit-drops-in-third-quarter-to-inr-52-crores\/","url_meta":{"origin":135067,"position":1},"title":"Yes bank&#8217;s profit drops in third quarter to INR 52 crores","author":"Chirag Gupta","date":"February 13, 2023","format":false,"excerpt":"Private sector lender YES Bank today reported 80.66% on-year drop in its standalone December quarter net profit at INR 51.52 crore due to ageing related provisions. Its net interest income improved 11.7% YoY at INR 1,971 crore in Q3. Its net interest margin (NIM) in Q3 stood at 2.5% up\u2026","rel":"","context":"In &quot;Analysis&quot;","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":138864,"url":"https:\/\/alphastreet.com\/india\/union-bank-q3fy23-results-out-net-profit-soared-by-107\/","url_meta":{"origin":135067,"position":2},"title":"Union Bank Q3FY23 results out; Net profit soared by 107%","author":"Chirag Gupta","date":"January 20, 2023","format":false,"excerpt":"Union Bank of India reported more than double year-on-year growth in its net profit for the quarter that ended December 31, 2022, to INR 2,234 crore. The bank reported more than double net profit alongside healthy asset quality figures. The lender recorded a net profit of INR 2,234 crore, doubling\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":138869,"url":"https:\/\/alphastreet.com\/india\/union-banks-net-profit-grows-more-than-double-to-inr-2245-crores-while-gross-npa-drops-rapidly\/","url_meta":{"origin":135067,"position":3},"title":"Union Bank&#8217;s net profit grows more than double to INR 2,245 Crores while gross NPA drops rapidly","author":"Chirag Gupta","date":"January 20, 2023","format":false,"excerpt":"Government-owned Union Bank of India recorded strong Q3 earnings with profitability more than doubling year-on-year. The bank garnered a robust growth of 106.81% in net profit to \u20b92,245 crore in Q3FY23 compared to a profit of \u20b91,085 crore. The PAT climbed by 21.48% from \u20b91,848 crore in June 2022 quarter.\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":138682,"url":"https:\/\/alphastreet.com\/india\/metro-brands-q3fy23-results-out-net-revenue-up-by-24\/","url_meta":{"origin":135067,"position":4},"title":"Metro Brands Q3FY23 results out: Net revenue up by 24%","author":"Chirag Gupta","date":"January 17, 2023","format":false,"excerpt":"The share price of Metro Brands declined half a percent to INR 843.3 on January 17 after contraction in operating profit margin for the quarter ended December 2022, but the highest ever profit, revenue and EBITDA capped the downside. The footwear retailer has recorded a 10.8 percent on-year growth in\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":139194,"url":"https:\/\/alphastreet.com\/india\/tata-motors-posted-a-22-rise-in-its-net-profit-for-q3fy23\/","url_meta":{"origin":135067,"position":5},"title":"Tata motors posted a 22% rise in its net profit for Q3FY23","author":"Chirag Gupta","date":"January 25, 2023","format":false,"excerpt":"Tata Motors on January 25 reported a consolidated net profit of INR 2,957.71 crore for the quarter ended December 2022, against a loss of INR 1,516.14 crore in the same quarter last year. Revenue from operations came in at INR 88,488.59 crore, up 22.51 percent from INR 72,229.29 crore in\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be96846c-b7d4-41db-bf0b-d691f955f96d.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be96846c-b7d4-41db-bf0b-d691f955f96d.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be96846c-b7d4-41db-bf0b-d691f955f96d.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be96846c-b7d4-41db-bf0b-d691f955f96d.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be96846c-b7d4-41db-bf0b-d691f955f96d.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be96846c-b7d4-41db-bf0b-d691f955f96d.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=135067"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135067\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/49407"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=135067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=135067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=135067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}