DCB Bank’s net dips 3.1% at Rs 41.2 cr in Dec quarter

Private sector lender DCB Bank Ltd on Tuesday reported a decline of 3.1 per cent in its standalone net profit for the third quarter ended December 31, 2015 at Rs 41.2 crore.

The bank had posted the net profit of Rs 42.5 crore in corresponding quarter of previous fiscal, said DCB Bank Ltd in a filing to the BSE on January 12, 2016.

However, total income of the bank rose 17.9 per cent to Rs 477.05 crore in Q3 FY16 from Rs 404.49 crore in Q3 FY15.

In the quarter, provisions (other than tax) and contingencies decreased to Rs 20.96 crore from Rs 21.67 crore in previous quarter and increased from Rs 18.42 crore in the corresponding quarter of last fiscal.

NII, the difference between interest earned on loans and interest paid on deposits, grew 31.6 per cent at Rs 160.46 crore versus Rs 121.9 crore in the year ago period. Non-interest income down marginally by 1.6 per cent to Rs 47.20 crore from Rs 47.99 crore in the same period a year ago.

During the quarter under review, the bank’s gross non-performing assets (Gross NPA) increased to 1.98 per cent of total loans, compared with 1.87 per cent in the year-ago quarter. Net NPA of the bank too grew to 1.12 per cent against 1.00 per cent in corresponding period last year.

Meanwhile, shares of the Bank ended Tuesday’s trade at Rs 75.10 apiece, down 1.18 per cent, from previous close on BSE.