DCB Bank Q3 net down 21.9% YoY to Rs 75 cr as other income falls

Sequentially, net profit rose marginally from Rs 65 crore in Q2FY22

Private lender DCB Bank's  net profit fell by 21.9 per cent year on year (YoY) at Rs 75 crore for the third quarter ended December 2021 (Q3FY22) on fall in other income.

The net profit was Rs 96 crore in Q3FY21. Sequentially, net profit rose marginally from Rs 65 crore in the second quarter ended September 2021 (Q2FY22).

After Covid-19 second wave impact in first quarter FY22, net profit has been improving based on overall business and control over non-performing assets (NPAs), bank said in statement filed with BSE.

Mumbai-based lender's stock was 2.27 per cent lower at Rs 86.15 per share on BSE.

The bank's Net Interest Income (NII) rose marginally to Rs 345 crore in Q3FY22 as against Rs 335 crore in Q3FY21. Sequentially, NII was up from Rs 323 crore in Q2FY22.

The non-interest income fell by 24.3 per cent on YoY basis to Rs 118 crore in Q3FY22 from Rs 156 crore in Q3FY21. Sequentially, it rose from Rs 98 crore in the quarter ended September 2021.

The provisions and contingencies were down sharply to Rs 96 crore in Q3FY22 from Rs 149 crore in Q3FY21 and but rose from Rs 86 crore in Q2FY22.

The provision coverage ratio fell to 62.17 per cent at the end of December 2021 from 84.25 per cent a year ago. Sequentially, it improved from 60.46 per cent as of September 2021.

Its Gross NPAs moved up to 4.73 per cent in December 2021 from 1.96 per cent in the year ago period. Sequentially, they rose from 4.68 per cent in September 2021.

The Net NPAs rose to 2.52 per cent in December 2021 from 0.59 per cent a year ago. Sequentially, they moderated from 2.63 per cent in September 2021.

Its advances increased by 9.3 per cent year on year (YOY) to Rs 27,659 crore. Its deposits increased by 2.03 per cent YOY to Rs 32,231 crore in December 2021.

The bank's capital adequacy ratio stood at 18.21 per cent in December 2021.