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Shares DCB Bank has dipped 5.3% to Rs 134, extending its previous day’s 3.8% fall on the BSE, as asset quality of the bank worsened in April-June 2015 (Q1FY16) quarter.
The bank’s gross non-performing assets (NPA) rose to 1.96% in June quarter from 1.76% in March quarter and 1.78% in the year-ago period.
This is primarily on account of slippage of approximately Rs 10 crore, one corporate account and slippages of approximately Rs 13 crore in gold loans largely due to operational reasons, DCB Bank said in a press release.
Net NPA also increased to 1.22% in June quarter from 1.01% in preceding quarter and 0.97% in the previous year quarter.
Meanwhile, the private sector reported 4% year-on-year (yoy) jump in net profit at Rs 47 crore in Q1FY16, on back of higher other income and lower provisions. The bank had profit of Rs 45 crore in the same quarter, year ago.
Net interest income (the difference between interest earned and interest expended) remains flat at Rs 140 crore over the previous year quarter. Other income (non interest income) jumped 83% to Rs 63 crore from Rs 34 crore during the same period.
The stock hit a intra-day low of Rs 132 and has fallen nearly 13% from its 52-week high of Rs 151 touched on Tuesday in intra-day trade on the BSE. A combined 4.11 million shares changed hands on the counter on the BSE and NSE till 1312 hours.
The bank’s gross non-performing assets (NPA) rose to 1.96% in June quarter from 1.76% in March quarter and 1.78% in the year-ago period.
This is primarily on account of slippage of approximately Rs 10 crore, one corporate account and slippages of approximately Rs 13 crore in gold loans largely due to operational reasons, DCB Bank said in a press release.
Net NPA also increased to 1.22% in June quarter from 1.01% in preceding quarter and 0.97% in the previous year quarter.
Meanwhile, the private sector reported 4% year-on-year (yoy) jump in net profit at Rs 47 crore in Q1FY16, on back of higher other income and lower provisions. The bank had profit of Rs 45 crore in the same quarter, year ago.
Net interest income (the difference between interest earned and interest expended) remains flat at Rs 140 crore over the previous year quarter. Other income (non interest income) jumped 83% to Rs 63 crore from Rs 34 crore during the same period.
The stock hit a intra-day low of Rs 132 and has fallen nearly 13% from its 52-week high of Rs 151 touched on Tuesday in intra-day trade on the BSE. A combined 4.11 million shares changed hands on the counter on the BSE and NSE till 1312 hours.
