DCB Bank has rallied 6% to Rs 59.80 on the BSE after reporting a strong 33% year-on-year (yoy) jump in net profit at Rs 36 crore for the third quarter ended December 2013 (Q3) on back of higher interest income and improvement in net interest margin. The private sector lender had registered a profit of Rs 27 crore in the year ago quarter.
Net interest income, or the difference between interest income and interest expense, grew by 31% from a year ago to Rs 94 crore. Net interest margin expanded 17 basis points yoy to 3.55% from 3.38% during the recently concluded quarter, DCB Bank said in a press release.
Meanwhile, the bank’s gross non-performing assets (NPA) as a proportion of advances declined to 2.77% at the end of December compared with 3.43% in September quarter. Net NPA too declined to 0.77% from 0.86% during the quarter.
The stock opened at Rs 59.85 and hit a high of Rs 60.55 on the BSE. A combined 2.69 million shares have changed hands on the counter so far on the BSE and NSE.
Net interest income, or the difference between interest income and interest expense, grew by 31% from a year ago to Rs 94 crore. Net interest margin expanded 17 basis points yoy to 3.55% from 3.38% during the recently concluded quarter, DCB Bank said in a press release.
Meanwhile, the bank’s gross non-performing assets (NPA) as a proportion of advances declined to 2.77% at the end of December compared with 3.43% in September quarter. Net NPA too declined to 0.77% from 0.86% during the quarter.
The stock opened at Rs 59.85 and hit a high of Rs 60.55 on the BSE. A combined 2.69 million shares have changed hands on the counter so far on the BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%