DCB Bank posts Rs 73 cr profit in Q2

Private sector DCB Bank Wednesday reported a net profit of Rs 73 crore for the quarter ended September 2018, up 25 per cent on annual basis, said a release.

The bank's proft-after-tax was Rs 59 crore in the second quarter of 2017-18.

Its total income during the July-September quarter of the current fiscal was Rs 809.15 crore. This compares to Rs 652.09 crore in the year-ago period, the bank said in a regulatory filing to exchanges.

Its gross non-performing asset (NPA) was 1.84 per cent of gross advances at the end of the second quarter compared to 1.8 per cent at the end of September 2017.

Net NPA, however, reduced to 0.7 per cent from 0.9 per cent.

Commenting on the result, bank's MD and CEO Murali M Natrajan said that while continuing to achieve growth especially in retail, MSME/SME and agri and inclusive banking, strong focus on cost productivity is showing results.

"As of now, NPAs remain in control. We are steadily finding ways to improve capital efficiency. We are confident of delivering step-by-step improvement in cost income ratio and return on equity while achieving growth," Natrajan said.

Shares of the bank closed at Rs 160.40 on the BSE, down 4.61 per cent.