RBL Bank reports Q1 net profit at Rs 201 crore; asset quality improves

RBL Bank on Thursday reported a profit after tax of Rs 201.16 crore in the April-June quarter (Q1FY23) as against a net loss of Rs 459.7 crore in the year-ago period as sharp drop in provisions boosted the private lender’s bottomline.

Sequentially, the bank’s net profit rose 1.7 per cent from Rs 197.83 crore in Q4FY22.

In the April-June quarter, RBL Bank’s net interest income stood at Rs 1,027.73 crore, six per cent higher than Rs 969.5 crore a year ago. The net interest income is the difference between interest earned and interest expended. The bank’s net interest margin was