RBL Bank share fell over 2% amid a rising market today after the lender reported a loss of Rs 459.47 crore in the June quarter against a profit of Rs 141 crore in the corresponding quarter of previous fiscal.
The bank incurred losses on a rise in the provisioning due to second wave of pandemic.The lender’s share touched an intraday low of Rs 189.35, falling 2.62% against previous close of Rs 194.45 on BSE.
RBL Bank stock has fallen after 2 days of consecutive gain.
RBL Bank share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The midcap stock has gained 16.67% in one year but fallen 17.78% since the beginning of this year.
Market cap of the lender fell to Rs 11,381 crore on BSE.
Total 2.20 lakh shares changed hands amounting to turnover of Rs 4.19 crore.
Net interest income fell 7 per cent to Rs 970 crore in Q1
According to the lender, 97 per cent of non-performing assets (NPAs) of Rs 1,342 crore are from the retail sector. This is a result of impact of the second wave of the covid pandemic.
Gross NPAs rose to 4.99 per cent in Q1 from 4.34 per cent in the March quarter and 3.45 per cent in the June quarter of 2020-21 a year ago.
Total provisioning rose to Rs 1,425 crore in last quarter from Rs 500 crore in the April-June quarter of 2020-21 a year ago.