 "DCB Bank dips on disappointing Q1 results")
Shares of DCB Bank dipped 7% to Rs 137, declining 9% from their intra-day high on the BSE, after the private sector lender said that its gross net performing assets (NPA) rose to 1.96% in the June 2015 quarter (Q1) from 1.76% in the March 2015 quarter. Gross NPAs stood at 1.78% at the end of June 2014 quarter.
The bank’s net NPAs as percentage of total net advances too rose to 1.22% in the June quarter against 1.01% in the preceding quarter and 0.97% in the previous year quarter.
Meanwhile, during the quarter under review, the bank has reported a 5% year-on-year growth in its standalone net profit at Rs 46.87 crore against Rs 44.64 crore in the corresponding quarter of previous year.
Net interest income (interest earned minus interest expended) remains flat at Rs 140 crore, DCB Bank said in a statement.
The stock hit a record high of Rs 151 on the BSE before announcement of June quarter earnings. Till 1529 hours, a combined 10.14 million shares changed hands on the counter on the BSE and NSE.
The bank’s net NPAs as percentage of total net advances too rose to 1.22% in the June quarter against 1.01% in the preceding quarter and 0.97% in the previous year quarter.
Meanwhile, during the quarter under review, the bank has reported a 5% year-on-year growth in its standalone net profit at Rs 46.87 crore against Rs 44.64 crore in the corresponding quarter of previous year.
Net interest income (interest earned minus interest expended) remains flat at Rs 140 crore, DCB Bank said in a statement.
The stock hit a record high of Rs 151 on the BSE before announcement of June quarter earnings. Till 1529 hours, a combined 10.14 million shares changed hands on the counter on the BSE and NSE.
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