DCB Bank jumps over 5% on good growth in Q4 earnings, fall in NPAs
Private sector lender DCB Bank share price rallied more than 5 percent intraday Monday after reporting good earnings growth and improvement in asset quality performance.
Net profit for the March quarter grew by 21.5 percent to Rs 64.2 crore and net interest income grew by 19.7 percent to Rs 263.7 crore compared to year-ago.
Operating profit increased 23 percent to Rs 142 crore from Rs 115 crore on year-on-year basis.
Non-interest income for the quarter was at Rs 85 crore, an increase of 34 percent compared to Rs 63 crore for the same period last year.
Gross non-performing assets improved to 1.79 percent in Q4FY18 from 1.89 percent in Q3FY18 and net NPA also improved to 0.72 percent from 0.87 percent on sequential basis.
Provisions for bad loans increased sequentially 13.1 percent to Rs 38.8 crore for the quarter ended March 2018.
At 14:42 hours IST, the stock price was quoting at Rs 188.60, up Rs 9.75, or 5.45 percent on the BSE.