DCB Bank Q2 profit rises 31% to Rs48.5 crore
Mumbai: Private sector lender DCB Bank Ltd said fiscal second-quarter profit rose 31% from a year earlier on higher net interest income (NII) and other income.
Net profit rose to Rs48.49 crore in the three months ended 30 September from Rs36.93 crore a year ago. NII, or the difference between interest earned on loans and that spent on deposits, rose 27% to Rs190.32 crore in the July-September period from Rs149.96 crore a year ago.
DCB Bank’s other income rose 26.5% from a year ago to Rs61.62 crore.
Gross non-performing assets (NPAs) rose 10.4% to Rs255.4 crore from the preceding June quarter. As a ratio of total advances, gross NPAs were at 1.75% during the second quarter, slightly higher than 1.72% reported in the preceding three months. Net NPA ratio during July-September was at 0.84% as against 0.87% in the June quarter.
Provisions for the second quarter were at Rs26.48 crore as compared with Rs20.53 crore in the April-June period and Rs21.67 crore reported in the second quarter last year.
On Friday, shares of DCB Bank fell 1.09% to Rs122 on BSE, while the benchmark Sensex gained 0.11% to 27,673.60 points.