DCB Bank tanks after Q1 results

DCB Bank fell 16.35% to Rs 199.75 at 13:52 IST on BSE after the company reported Q1 results after trading hours yesterday, 16 July 2019.

Meanwhile, S&P BSE Sensex was up 79.10 points or 0.20% at 39,210.14.

On BSE, 11 lakh shares were traded in DCB Bank counter, compared to a 2-week average of 1.14 lakh shares. The share price hit an intraday high of Rs 222 and an intraday low of Rs 196.20. It hit a 52-week high of Rs 244.60 on 25 June 2019 and a 52-week low of Rs 139.50 on 1 October 2018.

DCB Bank's net profit rose 16.63% to Rs 81.06 crore on a 20.43% increase in total income to Rs 944.46 crore in Q1 June 2019 over Q1 June 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 476.40 crore as on 30 June 2019 as against Rs 439.48 crore as on 31 March 2019 and Rs 400.60 crore as on 30 June 2018.

The ratio of gross NPAs to gross advances stood at 1.96% as on 30 June 2019 as against 1.84% as on 31 March 2019 and 1.86% as on 30 June 2018.

The ratio of net NPAs to net advances stood at 0.81% as on 30 June 2019 as against 0.65% as on 31 March 2019 and 0.72% as on 30 June 2018.

The bank's provisions and contingencies jumped 22.29% to Rs 40.64 crore in Q1 June 2019 over Q1 June 2018.

Provision coverage ratio of the bank was at 75.59% as on 30 June 2019.

CASA ratio stood at 24.53% as on 30 June 2019 as against 24.63% as on 30 June 2018, with savings accounts year on year growth rate of 16%.

DCB Bank is a private sector bank with 334 branches across 19 states and 3 union territories.

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