DCB stock surges owing to good quarter numbers
Mayuresh Deshmukh / 18 Apr 2016
Private lender DCB Bank posted its year ending quarterly results on Friday. DCB Bank's gross non-performing assets ratio improved to 1.51 per cent compared with 1.76 per cent last year. Its net NPA ratio stands at 0.75 per cent as against the earlier 1.01 per cent.
Private lender DCB Bank posted its year ending quarterly results on Friday. DCB Bank's gross non-performing assets ratio improved to 1.51 per cent compared with 1.76 per cent last year. Its net NPA ratio stands at 0.75 per cent as against the earlier 1.01 per cent.
DCB Bank is a modern emerging new generation private sector bank with 160 branches across 16 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India.
On financial front, DCB Bank's total interest earned increased by 18 per cent to Rs 448 crores in Q4FY16 compared to Rs 379 crores in Q4FY15. The interest expenses rose by 12 per cent to Rs 279 crore in Q4FY16, compared to Rs 249 crores for the same period last year. The Net Interest Income (NII) stands at Rs 169 crores compared to Rs 130 crores, an increase of 30 per cent YoY. DCB Bank's operating profit increased by 43 per cent to Rs 97 crores in Q4FY16 as compared to Rs 68 crores for the same period last year. Net profit increased by 10 per cent and reached to Rs 70 crores this quarter compared to Rs 63 crores for the same period last year.
For the year ending March 2016, the NII stands at Rs 620 crores compared to Rs 508 crores in FY15, an increase of 22 per cent. The NII margin stands at 3.92 per cent compared to 3.72 per cent for FY15. The operating profit stands at Rs 349 crores compared to Rs 277 crores for the same period last year, an increase of 26 per cent. The net profit stands at Rs 195 crores compared to Rs 191 crores, an increase of 2 per cent from the same period last year.
The net advances including corporate banking for FY16 grew to Rs 12921 crores from Rs 10465 crores in FY15, an increase of 23 per cent. The net non-performing asset (NPA) ratio decreased to 0.75 per cent from 1.01 per cent as on March 2015 and 1.12 per cent as on December 2015. The CASA ratio remained stable at 23 per cent.
On valuation front the stock of company is trading at trailing twelve-month P/E of 13.27 compared to industry P/E of 19.57. Reacting to the good numbers the stock of company has surged to Rs 88.20, an increase of 5.88 per cent from previous close in early morning trade on Monday.
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