DCB posts Rs 22 cr profit for July-Sep

The bank had posted a net profit of Rs 13.3 crore for the same period last year

Development Credit Bank today reported a net profit of Rs 22.1 crore for the July-September quarter this year, up 66% from that in the same period last year.

It had posted a net profit of Rs 13.3 crore for the same period last year.

Its total income rose to Rs 94 crore in the second quarter from Rs 82 crore a year ago.

The net interest margin (NIM) stood at 3.24% in the second quarter against 3.41% a year ago.

"We are satisfied with the progress made so far this year and we hope to build further momentum in the second half of FY2012-13," DCB, Managing Director and CEO M Natrajan said in a statement.

DCB shares closed at Rs 46.40 apiece on the BSE today, up 1.42% from the previous close.