DCB Bank's net profit increases 25% to Rs 142 crore in March quarter

Private sector lender DCB Bank on Friday posted a 25 per cent increase in its net profit to Rs 142 crore in the quarter ended March 2023.

The Mumbai-based lender had posted a net profit of Rs 113 crore in the year-ago period.

Total income during the January-March quarter of FY23 rose to Rs 608 crore from Rs 495 crore in the same period of FY22, the bank said in a statement.

The Gross NPAs as of March 31, 2023, were 3.19 per cent. Net NPA was at 1.04 per cent as of March 31, 2023.

Both Gross NPA and Net NPA declined sequentially as well as in comparison to last year, DCB Bank said.

For the full 2022-23 fiscal, the bank's net profit jumped by 62 per cent to Rs 466 crore compared to Rs 288 crore in 2021-22.