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RBL Bank gains around 2% after reporting March quarter results

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RBL Bank shares were last up 1.35 percent to Rs 184.20 on BSE.

RBL Bank’s share price today gained around 2% on Wednesday, May 5, a day after the bank announced its January-March quarterly results for fiscal year 2020-21. RBL Bank opened on BSE at Rs 179.45 on Wednesday, recording an intraday high of Rs 186.75 and an intraday low of Rs 179.45, in the trading session so far. According to a regulatory filing by the bank on the stock exchanges, the private sector bank reported net profit of Rs 75 crore in the March quarter, marking a 34% year-on-year decline.

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According to the statement, the net interest income of RBL Bank or NII in the fourth and final quarter of fiscal year 2020-2021 fell 11% year-on-year to Rs 906 crore. The lender’s net income and net interest income were lower than analysts’ estimates.

On the NSE, RBL Bank opened at Rs 180.25, hitting an intra-day high of Rs 186.90 and an intra-day low of Rs 180.25, in the session so far. It was last up 1.43% to Rs 184.35 on the NSE.

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RBL Bank shares were last up 1.35 percent to Rs 184.20 on BSE.

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