Giving up most of initial gains, DCB Bank shares ended 4 per cent higher in an overall weak stock market, a day after it reported 61 per cent jump in the March quarter net profit.
After surging 9.32 per cent to Rs 126 on the BSE in the intra-day trade, shares of DCB Bank finally ended at Rs 119.90, up 4.03 per cent.
On the NSE, it settled with a gain of 3.61 per cent at Rs 119.10.
On the volume front, 27.87 lakh shares of the company changed hands at the BSE and over 1 crore at the NSE during the day.
DCB Bank's MD and CEO Murali Natrajan yesterday said a Rs 10-crore "deferred tax benefit" on earlier outgoes and Rs 7-crore writeback on bad loan provisions were the primary reasons for the jump in profit to Rs 63 crore.
The bank had logged a post-tax profit of Rs 39 crore in the same year-ago period.
The core net interest income moved up to Rs 130 crore from Rs 100 crore a year ago while non-interest income stood at Rs 46 crore for the reporting quarter against Rs 33 crore a year ago.
Meanwhile, the BSE benchmark Sensex fell 244.75 points to end the day at 28,799.69.
