RBL Bank tanks 14%
Shares of RBL Bank slumped 14 per cent on Monday morning after the firm posted a 24 per cent decline in net profit in the September quarter to Rs 223 crore on asset quality challenges emanating from credit card and microlending books
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New Delhi: Shares of RBL Bank slumped 14 per cent on Monday morning after the firm posted a 24 per cent decline in net profit in the September quarter to Rs 223 crore on asset quality challenges emanating from credit card and microlending books. The company’s stock plunged 14 per cent to hit a 52-week low of Rs 176.50 apiece on both the BSE and NSE. RBL Bank announced the September quarter earnings on Saturday. The private sector lender had reported a post-tax net profit of Rs 294 crore in the year-ago period, and Rs 372 crore in the preceding June quarter.
