DCB Bank has rallied 6% to Rs 59.80 on the BSE after reporting a strong 33% year-on-year (yoy) jump in net profit at Rs 36 crore for the third quarter ended December 2013 (Q3) on back of higher interest income and improvement in net interest margin. The private sector lender had registered a profit of Rs 27 crore in the year ago quarter.
Net interest income, or the difference between interest income and interest expense, grew by 31% from a year ago to Rs 94 crore. Net interest margin expanded 17 basis points yoy to 3.55% from 3.38% during the recently concluded quarter, DCB Bank said in a press release.
Meanwhile, the bank’s gross non-performing assets (NPA) as a proportion of advances declined to 2.77% at the end of December compared with 3.43% in September quarter. Net NPA too declined to 0.77% from 0.86% during the quarter.
The stock opened at Rs 59.85 and hit a high of Rs 60.55 on the BSE. A combined 2.69 million shares have changed hands on the counter so far on the BSE and NSE.
Net interest income, or the difference between interest income and interest expense, grew by 31% from a year ago to Rs 94 crore. Net interest margin expanded 17 basis points yoy to 3.55% from 3.38% during the recently concluded quarter, DCB Bank said in a press release.
Meanwhile, the bank’s gross non-performing assets (NPA) as a proportion of advances declined to 2.77% at the end of December compared with 3.43% in September quarter. Net NPA too declined to 0.77% from 0.86% during the quarter.
The stock opened at Rs 59.85 and hit a high of Rs 60.55 on the BSE. A combined 2.69 million shares have changed hands on the counter so far on the BSE and NSE.
