Home > Companies > Company Results > DCB Bank Q1 profit jumps 16.63% at 81.06 crore

MUMBAI : DCB Bank Ltd on Tuesday said its first quarter net profit rose 16.63% on the back of higher net interest income and other income.

The bank posted a net profit of 81.06 crore for the three months ended 30 June compared to 69.50 crore in the year-ago period. Profit was lower than 93.11 crore estimated by a Bloomberg poll of 11 analysts.

Net interest income, or the difference between interest earned on loans and that paid on deposits, increased 11.64% to 304.75 crore from 272.97 crore in the corresponding period last year.

Other income, which includes core fee income, rose 4.74% to 86.76 crore in the three months from 82.83 crore a year ago.

Gross non-performing assets (NPAs), as a percentage of total advances, were at 1.96% in the June quarter compared with 1.84% in the March quarter and 1.86% in the year-ago period.

Provisions during the quarter increased 22.3% to 40.64 crore as against 33.23 crore in the year-ago quarter. In Jan-Mar, the bank had set aside 34.78 crore in provisions.

Post-provision, the net NPA ratio was at 0.81% against 0.65% in the March quarter and 0.72% in the year-ago period.

Tuesday, shares of the bank gained 1.27% to close at 238.80 apiece, while the benchmark Sensex index rose 0.60% to close at 39,131.04 points.

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