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DCB Bank hits 52-week high post Q2 results

SI Reporter / Mumbai 17 Oct 16 | 11:48 AM

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters

DCB Bank has moved higher to its 52-week high of Rs 131, up 8% on the BSE, after the bank reported 31% year on year (YoY) increase in net profit at Rs 48.9 crore for the quarter ended on September 30, 2016 (Q2FY17). The private lender had recorded a net profit of Rs 36.9 crore in the corresponding quarter of last fiscal.

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Net interest income (interest earned minus interest expended) grew 27% at Rs 190 crore during the quarter under review, as against Rs 150 crore over the corresponding period of 2015-16.

Net interest margin improved to 3.96% in Q2FY17 as against 3.79% on Q2FY16, DCB Bank said in a press release.

The gross Non-performing Assets (NPAs) of the bank decreased to 1.75% from 1.99% in year ago quarter. Net NPAs decreased to 0.84% from 1.16%. Gross NPAs and Net NPAs stood at 1.72% and .87% as on June 30, 2016.

At 11:46 am, the stock was up 6% at Rs 130 on the BSE. The trading volumes on the counter more than doubled with a combined 5.55 million shares changed hands on the counter on the BSE and NSE.

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