Dena Bank dips 5% even as it trims losses in Q1

The public sector lender reported an improvement with the net loss reducing to Rs 132.65 crore in Q1

Shares of Dena Bank shed 5% on the BSE even as the public sector lender reported an improvement with the net loss reducing to Rs 132.65 crore in the quarter ended June 30, helped by decline in NPAs and better net interest margin.

The stock slipped 5% to Rs 32 in intraday trade on BSE. 

So far nearly two lakh shares exchanged hands on the counter on the BSE against its two-week average of 1.3 lakh shares.   

Dena Bank had posted a net loss of Rs 279.35 crore in the same quarter last year. Its NII rose from Rs 620.88 crore in the first quarter of FY17 to Rs 675.07 crore. Its non-interest incomes rose to Rs 237.29 crore from Rs 221.02 crore mainly due to improvement in commission income, the bank said in a statement.

The provision and contingencies decreased to Rs 421.43 crore from Rs 549.79 crore. Its gross non-performing assets stood at 17.37 per cent at end of June 2017.