DCB Bank's shares decline nearly 2% after 22% fall in Q3 net profit

Shares of DCB Bank on Wednesday dipped nearly 2 per cent after the company reported a 22 per cent decline in its net profit for the quarter ended in December 2021.

The stock declined 1.47 per cent to settle at Rs 86.85 on the BSE. During the day, it tumbled 4.02 per cent to Rs 84.60.

At the NSE, it fell by 1.81 per cent to settle at Rs 86.60.

Private lender DCB Bank on Wednesday reported a 22 per cent decline in its net profit to Rs 75.37 crore for the quarter ended in December 2021. The bank had posted a net profit of Rs 96.21 crore in the corresponding quarter of the last year.

Total income during the October-December quarter of FY22 also fell to Rs 996.42 crore, as against Rs 1,025.98 crore in the same period of FY21, DCB Bank said in a regulatory filing.

The asset quality of the bank deteriorated as gross non-performing assets rose to 4.73 per cent of the gross advances at end of December 2021 as against 1.96 per cent in the year-ago period.