DCB Bank hits 52-week high as net profit jumps 31% in Q2

Last Updated: Mon, Oct 17, 2016 13:27 hrs
DCB Bank

DCB Bank rose nearly 8% to Rs 131.40 this morning, a new 52-week high, after the bank reported a shrp 31.3% jump in net profit at Rs 48.49 crore for the quarter ended September 2016, compared to the corresponding quarter last year.

The bank't total income in the second quarter rose 22.16% to Rs 567.89 crore, over the year-ago quarter.

DCB Bank's gross non-performing assets as on 30 September 2016, rose to Rs 255.40 crore, from Rs 231.26 crore as on 30 June 2016. The bank's gross NPAs stood at Rs 224.33 crore at the end of the September 2015 quarter. The ratio of gross NPAs to gross advances stood at 1.75% as on 30 September 2016 as against 1.72% as on 30 June 2016 and 1.99% as on 30 September 2015.

The ratio of net NPAs to net advances of the bank stood at 0.84% as on 30 September 2016 as against 0.87% as on 30 June 2016 and 1.16% as on 30 September 2015. Provisions and contingencies (excluding tax provisions) were up 22.19% to Rs 26.48 crore in the July - September 2016 over the second quarter of the previous year.

The bank saw its net interest margin rise 3.96% in the second quarter of this financial year, from 3.79% in the year-ago period. Net interest income was up 27% to Rs 190 crore in the September 2016 quarter, compared to the year-ago period.

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