 "DCB Bank gains post Q3 results")
DCB Bank has surged 7% to Rs 80.60 on the BSE in early morning trade after the private sector lender said that gross non-performing assets (NPA) as a percentage of total advances declined marginally to 1.98% at the end of December quarter (Q3FY16), from 1.99% in the previous quarter. Net NPA declined to 1.12% from 1.16% on a sequential basis.
Meanwhile, DCB Bank had reported a marginal 3% decline in standalone net profit at Rs 41 crore for the quarter against Rs 43 crore in the corresponding quarter of previous fiscal. Net interest income however increased 32% to Rs 160 crore from Rs 122 crore over the previous year quarter.
The bank’s net interest margin increased to 3.96% in Q3FY16 as against 3.70% for Q3FY15.
At 09:30 a.m. the stock was up 6% at Rs 79.35 on the BSE. A combined 1.5 million shares have changed hands on the counter on the NSE and BSE so far.
The stock hit a 52-week low of Rs 74.10 on Tuesday in intra-day trade and more than halved from its 52-week high of Rs 151 touched on July last year.
Meanwhile, DCB Bank had reported a marginal 3% decline in standalone net profit at Rs 41 crore for the quarter against Rs 43 crore in the corresponding quarter of previous fiscal. Net interest income however increased 32% to Rs 160 crore from Rs 122 crore over the previous year quarter.
The bank’s net interest margin increased to 3.96% in Q3FY16 as against 3.70% for Q3FY15.
At 09:30 a.m. the stock was up 6% at Rs 79.35 on the BSE. A combined 1.5 million shares have changed hands on the counter on the NSE and BSE so far.
The stock hit a 52-week low of Rs 74.10 on Tuesday in intra-day trade and more than halved from its 52-week high of Rs 151 touched on July last year.
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