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DCB Bank shares gain over 3% as Q2 net profit rises

Shares of DCB Bank Monday rose by over 3 percent after the company posted a 31.30 percent increase in net profit for the quarter ended on September 30, 2016.



New Delhi: Shares of DCB Bank Monday rose by over 3 percent after the company posted a 31.30 percent increase in net profit for the quarter ended on September 30, 2016.

The scrip gained 3.20 percent to close at Rs 125.90 on BSE. During the day, it rose 7.70 percent to Rs 131.40 -- its 52-week high.

At NSE, shares of the company moved up by 3 percent to close at Rs 125.85.

In terms of volume, 13.08 lakh shares of the company were traded on BSE and over 84 lakh shares changed hands at NSE during the day.

DCB Bank on Friday posted a 31.30 percent increase in net profit at Rs 48.9 crore for the quarter ended September 30, 2016.

The bank had recorded a net profit of Rs 36.9 crore in the corresponding quarter of last fiscal, DCB Bank had said in a filing to BSE.

Total income of the lender increased to Rs 567.8 crore during the quarter under review, as against Rs 464.8 crore over the corresponding period of 2015-16.

The gross Non-performing Assets (NPAs) of the bank increased to 1.75 percent of total advances, from 1.72 percent at the end of second quarter of 2015-16.

However, net NPAs reduced to 0.84 percent from 0.87 percent of the total assets.

From Zee News

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