DCB Bank shares tank 20%; hit lower circuit as Sep net slips

Shares of private sector lender DCB Bank today slumped 20 per cent to touch its lowest trading permissible limit for the day after the company reported a 10 per cent decline in net profit for the July-September quarter.
The stock plunged 19.97 per cent to Rs 106.80 - its lower circuit limit - on BSE.
At NSE, shares of the company dipped by 19.98 per cent to hit the lower price band Rs 106.55.
DCB Bank yesterday reported 10.1 per cent decline in net profit to Rs 36.93 crore for the second quarter ended September.
Bank's net profit was Rs 41.09 crore in the same quarter of last fiscal, 2014-15.

Its total income during the July-September quarter of 2015-16 rose to Rs 464.87 crore, compared to Rs 371.83 crore in the year-ago period, the bank had said in a regulatory filing.
On asset front, bank's gross non-performing assets (NPAs) as a percentage of gross advances moved slightly up at 1.99 per cent as against 1.9 per cent a year ago.
Similarly, net NPAs or bad loans were at 1.16 per cent of the net advances in the second quarter, from 1.07 per cent a year earlier.