BackDCB Bank Q3 profit up 17% at Rs42.5 crore
Net interest income rose 29.5% to `122 crore compared to `94.16 crore a year ago
Premium
Mumbai: DCB Bank Ltd, on Tuesday, reported a 17% increase in net profit to ₹ 42.5 crore for the quarter ended December 2014 compared with ₹ 36.36 crore reported a year ago on improved interest income and other income.
Net interest income (NII), or income earned from the bank’s core lending business, rose 29.5% to ₹ 122 crore compared to ₹ 94.16 crore a year ago. The private sector lender’s other income rose nearly 46% to ₹ 48 crore during the October-December quarter, from ₹ 33 crore a year ago.
The bank’s asset quality improved marginally on a quarter-on-quarter basis as gross non-performing asset (NPA) ratio stood at 1.87% as on 30 December, lower than 1.9% reported in the July-September quarter. In the comparable quarter of the previous fiscal year, gross NPAs stood at 2.77%. Net NPA ratio improved by 7 basis points to 1% at the end of the third quarter, as compared with 1.07% in the second quarter.
The DCB Bank stock closed at ₹ 123.35 on BSE, down 0.16% from its previous close.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
