DCB Bank to open in green post outstanding Q2 results
DSIJ Intelligence / 17 Oct 2016
DCB Bank post market hours on October 14 declared its Q2FY17 results. The total income of the bank has increased by 22 per cent and stands at Rs 567.8 crores. 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.
DCB Bank post market hours on October 14 declared its Q2FY17 results. The total income of the bank has increased by 22 per cent and stands at Rs 567.8 crores. 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. The bank set aside Rs 26.48 crore as provisions, against Rs 21.67 crore in the year-ago quarter. DCB Bank posted a 31.30 percent increase in net profit at Rs 48.9 crore for the quarter ended on September 30, 2016. The bank had recorded a net profit of Rs 36.9 crore in the corresponding quarter of previous fiscal.
The shares of the company in the last 3 months has surged by 17 per cent. Fifty-two week high/low of the bank stands at Rs 129/68.50. The scrips of the bank will be closely watched on October 17 and is expected to remain in green.
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