DCB Bank falls over 5% post Q4 results

The stock dipped 7% to Rs 168 after the bank reported 24% YoY drop in net profit in Q4FY17.

DCB Bank  dipped 7% to Rs 168 on BSE in intra-day trade after the bank reported 24% year on year drop in net profit at Rs 53 crore for the fourth quarter ended March 2017 (Q4FY17), on higher provisioning and higher tax expense. The private sector lender had profit of Rs 70 crore in the same quarter last fiscal.

Net interest income (NII), or interest earned minus interest expense, increased 30% to Rs 220 crore from Rs 169 crore last year.

The bank’s gross net performing assets (NPAs) as a percentage of total loans rose to 1.59% at