RBL Bank Recommends Dividend Of Rs 1.5 Per Share
RBL Bank reported a 30% growth in its standalone net profit to Rs 353 crore in the March quarter, driven by a jump in other income.
RBL Bank Ltd.'s board or directors recommended a dividend of Rs 1.5 per share of face value Rs 10 each. This is subject to the approval of the members at the ensuing annual general meeting. "Effect of the proposed dividend has been reckoned in determining capital funds in the computation of capital adequacy ratios as at March 31, 2024," the company said in an exchange filing on Saturday.
RBL Bank reported a 30% growth in its standalone net profit to Rs 353 crore in the March quarter, driven by a jump in other income, according to a regulatory filing on Saturday.
Analysts polled by Bloomberg pegged the bottom line at Rs 322.11 crore for the quarter. On a sequential basis, the net profit of the private lender grew by 50%.
Other income rose 30% year over year to Rs 875.5 crore in the quarter under review. Of this, core fee income grew 26% year over year to Rs 829 crore.
Other income includes commission income from non-fund-based banking activities, fees, earnings from foreign exchange and derivative transactions, and profit and loss (including revaluation) from investments.