RBL Bank Ltd Q1FY22 consolidated loss at Rs. 462.25 crore

RBL Bank Limited has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.2804.57 crores during the period ended June 30, 2021 as compared to Rs.2747.88 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.(462.25) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.75.74 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.(7.68) for the period ended June 30, 2021 as compared to Rs.1.25 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 2804.57 crs	₹ 2747.88 crs	2.06%
Net Profit	₹ (462.25) crs	₹ 75.74 crs	-710.31%
EPS	₹ (7.68)	₹ 1.25	-714.4%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.2804.57 crores during the period ended June 30, 2021 as compared to Rs.2679.29 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.(462.25) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.154.42 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.(7.68) for the period ended June 30, 2021 as compared to Rs.3.03 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 2804.57 crs	₹ 2679.29 crs	4.68%
Net Profit	₹ (462.25) crs	₹ 154.42 crs	-399.35%
EPS	₹ (7.68)	₹ 3.03	-353.47%

CASA Continues Strong Growth; Total Deposits Grew 21% YOY:

- Total deposits grew 21% YOY and 2% QOQ to Rs. 74,471 crore
- CASA grew 35% YOY and 8% QOQ to Rs. 25,071 crore. CASA ratio at 33.7% vs. 30.1% in Q1FY21
- Retail Deposits (as per LCR definition) grew 47% YOY and 8% QOQ to Rs. 29,505 crore

Advances Growth:

- Advances book at Rs. 56,527 crore. Retail advances grew 7% YOY to Rs. 32,071 crore
- Retail: Wholesale mix at 57:43

Well capitalized with sound liquidity:

- Overall capital adequacy at 17.2% with Common Equity Tier 1 ratio of 16.1% at the end of Q1FY22
- Average Liquidity Coverage Ratio at 134% for Q1FY22

Asset quality:

- Gross NPA ratio at 4.99% vs. 4.34% in Q4FY21, Net NPA ratio at 2.01% vs. 2.12% in Q4FY21,
- Provision Coverage Ratio at 76.3% vs 72.2% in Q4FY21 and 70.5% in Q1FY21, up 5.8% YoY

Network

- The bank added 6 branches during Q1FY22 taking total number of branches to 435 as at 30th June, 2021. In addition, the Bank also has 1,422 business correspondent branches, of which 271 are banking outlets.

- RBL Finserve Limited ("RBL Finserve"), a 100% subsidiary of the Bank, accounts for 759 business correspondent branches.

Commenting on the performance Mr. Vishwavir Ahuja, MD & CEO, RBL Bank said "While our revenues and operating profits have held up well and continue to grow year on year, the effect of the second wave of the COVID pandemic on our asset quality was rather severe and different from the first wave given the nature of our businesses, despite the planned counter – cyclicality in our business mix. Economic activity and growth revival is now visible, hence we have decided to take a firm view and clear the decks for the future, by taking accelerated/more than adequate provisions, preparing the Bank to return to normalized levels of business, provisioning, growth and profitability. Additionally, we have set a clear road map for our Transformation 2.0 journey encompassing a larger digital agenda, expansion of our branch footprint, and building out our secured retail assets business and are confident that given our business traction and competitive strengths in certain businesses, this will reflect positively in our financial performance going forward".

Shares of RBL Bank Limited was last trading in BSE at Rs. 194.45 as compared to the previous close of Rs. 192.95. The total number of shares traded during the day was 304724 in over 3090 trades.

The stock hit an intraday high of Rs. 195.65 and intraday low of 192.05. The net turnover during the day was Rs. 59187133.

Source : Equity Bulls

Keywords