RBL BANK Announces Quarterly Results (1QFY22); Net Profit Down 399.3%

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RBL BANK Announces Quarterly Results (1QFY22); Net Profit Down 399.3%
Thu, 5 Aug

RBL BANK has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

RBL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Operating incomeRs m23,46120,14621,0344.4%-10.3%
Other incomeRs m3,3326,9047,0111.6%110.5%
Total revenuesRs m26,79327,04928,0463.7%4.7%
InterestRs m12,18010,15810,5573.9%-13.3%
Gross Profit Rs m11,2829,98810,4774.9%-7.1%
Other expensesRs m7,5848,1099,44216.4%24.5%
Profit before taxRs m2,0281,119-6,210-654.8%-406.2%
TaxRs m484362-1,588-538.5%-428.2%
Profit after taxRs m1,544757-4,623-710.3%-399.3%
Gross profit margin %48.149.649.8
Effective tax rate%23.932.325.6
Net profit margin%6.63.8-22.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter fell 10.3% on a year-on-year (YoY) basis. The interest expended was down by 13.3% YoY during the same period.
  • The bank's operating profit declined by 7.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 49.8% in 1QFY22 as against 48.1% in 1QFY21.
  • Other income increased by 110.5% YoY during the quarter.
  • Net profit for the quarter declined by 399.3% YoY. Net profit margins during the quarter declined from 6.6% in 1QFY21 to -22.0% in 1QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.9% QoQ during the same period.
  • The bank's operating profit increased by 4.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 49.8% in 1QFY22 as against 49.6% in 4QFY21.
  • Net profit for the quarter declined by 710.3% QoQ, while net profit margins declined from 3.8% in 4QFY21 to -22.0% in 1QFY22.

To see how RBL BANK has performed over the last eight quarters,please visit here.

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RBL BANK Share Price Performance

Over the last one year, RBL BANK share price has moved up from Rs 175.0 to Rs 182.4, registering a Gain of Rs 7.4 or around 4.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 40,801.3 (down 0.5%). Over the last one year it has moved up from 24,430.1 to 40,801.3, a gain of 16,371 points (up 67.0%).

Overall, the S&P BSE SENSEX is up 47.5% over the year.

Current Valuations

At the current price of Rs 182.4, the price to book value (P/BV) ratio of RBL BANK stands at 1.0 times.

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