Development Credit Bank rose 2.52% to Rs 50.95 at 10:32 IST on BSE after net profit surged 126.5% to Rs 42.83 crore on 26.9% jump in operating income to Rs 305.84 crore in Q1 June 2013 over Q1 June 2012.
The result was announced after market hours on Tuesday, 16 July 2013.
Meanwhile, the S&P BSE Sensex was up 80.48 points, or 0.41%, to 19,931.71.
On BSE, 2.16 lakh shares were traded in the counter as against an average daily volume of 4.33 lakh shares in the past one quarter.
The stock hit a high of Rs 51.45 and a low of Rs 50.25 so far during the day. The stock had hit a 52-week high of Rs 54.70 on 19 June 2013. The stock had hit a 52-week low of Rs 38.35 on 27 July 2012.
The stock had outperformed the market over the past one month till 16 July 2013, rising 8.16% compared with the Sensex's 3.51% rise. The scrip had outperformed the market in past one quarter, rising 6.65% as against Sensex's 5.90% rise.
The small-cap company has an equity capital of Rs 250.14 crore. Face value per share is Rs 10.
Development Credit Bank's (DCB) ratio of net non-performing assets to net advances stood at 0.84% as on 30 June 2013, compared with 0.75% as on 30 March 2013 and 0.75% as on 30 June 2012.
The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 3.41% as on 30 June 2013, compared with 3.18% as on 31 March 2013 and 4.18% as on 30 June 2012.
Provisions and contingencies jumped 43.6% to Rs 8.50 crore in Q1 June 2013 over Q1 June 2012.
The bank's capital adequacy ratio (CAR) as per Basel II norms stood at 13.89% as on 30 June 2013, compared with 13.61% as on 31 March 2013 and 14.49% as on 30 June 2012.
As on 30 June 2013, the bank's deposits grew by 22% at Rs 8320 crore as compared with 30 June 2012.
Retail deposits were at 80% of total deposits as on 30 June 2013. Current Account, Savings Account (CASA) ratio as on 30 June 2013 was at 27.5% as against 30.3% as on 30 June 2012.
Net advances grew to Rs 6471 crore as on 30 June 2013 from Rs 5449 crore as on 30 June 2012 a growth rate of 19%.
Net interest margin for Q1 June 2013 stands at 3.44% as against 3.18% for Q1 June 2012.
The bank's branch network increased from 94 to 101 branches in 51 locations as on 30 June 2013.
DCB is a private sector bank with 101 branches across 15 states and 2 union territories.
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