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Shares of RBL Bank today surged nearly 7 per cent after the company reported a 34 per cent increase in net profit for the July-September quarter.
The stock, after making a positive opening, further gained 6.98 per cent to Rs 334.60, its 52-week high, on the BSE.
On the NSE, shares of the company soared 6.89 per cent to touch its one-year high of Rs 335.
Recently-listed RBL Bank had yesterday reported a 34 per cent increase in the September quarter net at Rs 89.9 crore on a healthy rise in core interest income, which was fuelled by loan book expanding at a faster clip.
The bank had reported a net profit of Rs 66.9 crore in the corresponding quarter last fiscal, RBL Bank said in a BSE filing.
But for a Rs 28.47-crore exceptional hit on account of buying a 9.88 per cent stake in micro-lender Utkarsh Micro Finance, the profit growth would have been much higher, the private lender said.
Core net interest income grew 60 per cent during the reporting quarter to Rs 302.94 crore on a 44 per cent rise in advances, while other income was up 51 per cent at Rs 169.11 crore.
Gross non-performing assets (NPAs) ratio increased to 1.10 per cent in the three-month period from 0.93 per cent at the end of second quarter of 2015-16.
Bayer CropScience
Shares of Bayer CropScience today fell nearly 4 per cent after the company reported a marginal increase of 2 per cent in net profit for the quarter ended September 30.
The stock declined by 3.54 per cent to Rs 4,350.60 on the BSE. On the NSE, it went down by 3.63 per cent to Rs 4,360.
Bayer CropScience had yesterday reported a marginal increase of 2 per cent in net profit at Rs 159.1 crore for the second quarter of this fiscal on higher sales.
Its net profit stood at Rs 155.8 crore in the year-ago period, the company said in a regulatory filing.
Income from operations rose to Rs 1,160 crore during July-September quarter against Rs 1,055.2 crore in the corresponding period of the previous fiscal.
Bayer is a global enterprise with core competencies in the life science fields of healthcare and agriculture. In India, Bayer CropScience is into seed and crop protection business.
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