The company’s stock plunged 14 per cent to hit a 52-week low of Rs 176.50 apiece on both the BSE and NSE.

RBL Bank announced the September quarter earnings on Saturday.

The private sector lender had reported a post-tax net profit of Rs 294 crore in the year-ago period, and Rs 372 crore in the preceding June quarter.

RBL Bank Chief Executive Officer and Managing Director R Subramaniakumar told reporters that the stress in the microfinance book is due to industry-wide issues, but the same on the credit-card front, where the regulator has been flagging risks for the industry, is on account of internal aspects.

A senior bank official said the lender expects the challenges on credit cards that are arising out of a transition, to take loan collections in-house from being outsourced to a partner earlier, will settle by the end of the third quarter, but the same on microlending may persist longer.

The fresh slippages nearly doubled to Rs 1,026 crore during the quarter, and nearly 70 per cent of the additions came from the credit card book, while the rest were from microfinance, an official explained.

Air Arabia, the leading low-cost carrier in the Middle East and North Africa, earlier unveiled an extraordinary early bird promotion called ‘super seat sale’ with discounted offers on 500,000 seats across the company’s entire network. Limited seats are available as the offer is still going on and will conclude by October 20th. Those who did not book still have an opportunity to benefit from the lower fares.

The promotion includes non-stop flights from India to three airports across the United Arab Emirates (Sharjah, Abu Dhabi, and Ras Al Khaimah) and beyond to other onward destinations like Milan, Warsaw, Krakow, Athens, Moscow, Baku, Tbilisi, Almaty and many more with fares staring from INR 5,727 one way.

This early bird offer is available for booking from September 30th to October 20th, 2024, with travel dates spanning from 1st March, 2025, to 25th October, 2025.

The INR 5,727 ticket sale extends to nonstop flights originating from Mumbai, Delhi, Ahmedabad, Jaipur, Nagpur, Kolkata, Goa, Bengaluru, Hyderabad, Chennai, Thiruvananthapuram, Kochi, Coimbatore, and Kozhikode into Sharjah, Abu Dhabi and Ras Al Khaimah in the United Arab Emirates, and beyond.

Operating over 200 routes from its five strategic hubs located in the UAE, Morocco, and Egypt, Air Arabia continues to solidify its position as a leading player in the aviation industry.

Committed to providing passengers with comfort, reliability, and unbeatable value, Air Arabia is an award-winning airline dedicated to delivering exceptional travel experiences.