Mumbai: RBL Bank Ltd Wednesday said fiscal second-quarter profit rose 34% from a year ago on account of higher interest income. Net profit increased to Rs.89.89 crore in the three months ended 30 September from Rs.66.93 crore a year ago. Advances increased by 44% to Rs24,875 crore for the second quarter, against Rs17,279 crore a year ago. “We are targeting 30%-35% growth in advances over the next four years,” said Rajeev Ahuja, head strategy of RBL Bank. On Wednesday, shares of RBL Bank closed 1.41% higher at Rs312.75 apiece on BSE, while Sensex declined 0.24% to 27984.37 points.

Source: Mint October 19, 2016 20:03 UTC