DCB Bank profit falls 10% at Rs 37 cr

Private sector lender DCB Bank today reported 10.1% decline in net profit to Rs 36.93 crore for the second quarter ended September.

Bank's net profit was Rs 41.09 crore in the same quarter of last fiscal, 2014-15.

Its total income during the July-September quarter of 2015-16 rose to Rs 464.87 crore, compared to Rs 371.83 crore in the year-ago period, the bank said in a regulatory filing.

Provisioning for bad loans and other contingencies rose significantly to Rs 21.67 crore during the quarter under review from Rs 13.75 crore a year ago, it said.

On asset front, bank's gross non-performing assets (NPAs) as a percentage of gross advances moved slightly up at 1.99% as against 1.9% a year ago.
 
Similarly, net NPAs or bad loans were at 1.16% of the net advances in the second quarter, from 1.07% a year earlier.

DCB bank's stock closed 5.27% down at Rs 130.20 on the BSE.