21/10/2024, 11:15:05 am

RBL Bank shares hit 10% lower circuit as Q2 PAT declines 24% YoY

RBL Bank's shares fell 10% after reporting a 24% year-over-year decline in profit after tax to Rs 223 crore, despite a 9% increase in net interest income and 24% growth in operating profit. Brokerages IIFL, Investec, and Motilal Oswal reduced their target prices, citing concerns over asset quality deterioration, muted loan growth, and elevated credit costs.