RBL Bank tanks 20%, hits life-time low as net profit dips 74% in Q2

he bank's standalone PAT plummeted 74 per cent year on year (YoY) at Rs 54 crore due to higher provisioning for bad loans

Shares of RBL Bank tanked 20 per cent to Rs 231, its fresh life-time, low on the BSE on Wednesday after the private sector bank posted its worst quarterly show for the July-September quarter (Q2FY20) since listing on August 31, 2016. The stock fell below its previous low of Rs 242 touched on October 15. The stock was trading close to its issue price of Rs 225 per share.

At 10:10 am, RBL Bank was trading 17 per cent lower at Rs 238, as compared to a 0.36 per cent rise in the S&P BSE Sensex. A total of 9.05 million