RBL Bank tanks 15% on disappointing Q2 nos, stock down 37% from 52-wk high

The management said the bank is confident of reverting to normalised levels of business, growth and profitability from the current (Q3) quarter itself

Shares of RBL Bank plunged 15 per cent to Rs 172.10 on the BSE in Friday’s intra-day trade after the private sector lender reported a disappointing set of numbers, with profit after tax (PAT) down as much as 95 per cent year-on-year (YoY) at Rs 31 crore in September quarter (Q2FY22), due to higher provision and weak net interest income (NII). The bank had posted PAT of Rs 144 crore in Q2FY21 and a loss of Rs 459 crore in Q1FY22.

With today’s fall, the stock has corrected 37 per cent from its 52-week high level of Rs 274