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DCB Bank shares gain over 3% as Q2 net profit rises

At NSE, shares of the company moved up by 3 per cent to close at Rs 125.85.

By: PTI | New Delhi |
October 17, 2016 5:00:09 pm

Shares of DCB Bank on Monday rose by over 3 per cent after the company posted a 31.30 per cent increase in net profit for the quarter ended on September 30, 2016. The scrip gained 3.20 per cent to close at Rs 125.90 on BSE. During the day, it rose 7.70 per cent to Rs 131.40 –its 52-week high.

At NSE, shares of the company moved up by 3 per cent to close at Rs 125.85. In terms of volume, 13.08 lakh shares of the company were traded on BSE and over 84 lakh shares changed hands at NSE during the day.

DCB Bank on Friday posted a 31.30 per cent increase in net profit at Rs 48.9 crore for the quarter ended September 30, 2016. The bank had recorded a net profit of Rs 36.9 crore in the corresponding quarter of last fiscal, DCB Bank had said in a filing to BSE.

Total income of the lender increased to Rs 567.8 crore during the quarter under review, as against Rs 464.8 crore over the corresponding period of 2015-16. The gross Non-performing Assets (NPAs) of the bank increased to 1.75 per cent of total advances, from 1.72 per cent at the end of second quarter of 2015-16.

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However, net NPAs reduced to 0.84 per cent from 0.87 per cent of the total assets.

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