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DCB Bank tumbles after weak Q4 results

Capital Market 

DCB fell 4.98% to Rs 170.70 at 10:22 on after net profit declined 23.98% to Rs 52.86 crore on 20.2% increase in operating to Rs 612.64 crore in Q4 March 2017 over Q4 March 2016.

The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Meanwhile, the S&P Sensex was down 2.24 points, or 0.01% to 29,459.21.

On the BSE, 2.63 lakh shares were traded in the counter so far, compared with average daily volumes of 3.07 lakh shares in the past one quarter. The stock had hit a high of Rs 174 and a low of Rs 167.60 so far during the day. The stock hit a record high of Rs 183.40 on 12 April 2017. The stock hit a 52-week low of Rs 87.40 on 24 May 2016.

The stock had outperformed the market over the past one month till 13 April 2017, rising 9.34% compared with 0.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 45% as against Sensex's 8.16% rise.

The mid-cap company has equity capital of Rs 285.36 crore. Face value per share is Rs 10.

DCB Bank's net profit rose 2.65% to Rs 199.68 crore on 21.2% rise in total to Rs 2325.60 crore in the year ended March 2017 over the year ended March 2016.

The bank's gross non-performing assets (NPAs) stood at Rs 254.20 crore as on 31 March 2017 as against Rs 227.93 crore as on 30 December 2016 and Rs 197.38 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 1.59% as on 31 March 2017 as against 1.55% as on 31 December 2016 and 1.51% as on 31 March 2016.

The ratio of net NPAs to net advances stood at 0.79% as on 31 March 2017 as against 0.74% as on 31 December 2016 and 0.75% as on 31 March 2016.

The bank's provisions and contingencies (excluding tax provisions) rose 24.51% to Rs 33.93 crore in Q4 March 2017 over Q4 March 2016.

DCB is a new generation private sector with 262 branches across 18 states and 2 union territories.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 17 2017. 10:25 IST