AgenciesPrivate lender DCB Bank on Wednesday reported a 22 per cent decline in its net profit to Rs 75.37 crore for the quarter ended in December 2021.
The bank had posted a net profit of Rs 96.21 crore in the corresponding quarter of the last year.
Total income during the October-December quarter of FY22 also fell to Rs 996.42 crore, as against Rs 1,025.98 crore in the same period of FY21, DCB Bank said in a regulatory filing.
Interest income of the private sector lender was slightly higher at Rs 878 crore during the reported quarter from Rs 869.35 crore in year ago period.
The asset quality of the bank deteriorated as gross non-performing assets rose to 4.73 per cent of the gross advances at end of December 2021 as against 1.96 per cent in the year-ago period. Gross NPAs were at 4.68 per cent at end-September 2021.
Net NPAs ballooned to 2.52 per cent at December-end from 0.59 per cent a year ago but were down sequentially from 2.63 per cent at September-end.
The bank put aside a lower amount of Rs 96.98 crore for provisions and contingencies for Q3FY22 as against Rs 149.83 crore in the year-ago quarter.
Shares of the bank traded 3.4 per cent down at Rs 85.15 apiece on BSE.
The bank had posted a net profit of Rs 96.21 crore in the corresponding quarter of the last year.
Total income during the October-December quarter of FY22 also fell to Rs 996.42 crore, as against Rs 1,025.98 crore in the same period of FY21, DCB Bank said in a regulatory filing.
Interest income of the private sector lender was slightly higher at Rs 878 crore during the reported quarter from Rs 869.35 crore in year ago period.
The asset quality of the bank deteriorated as gross non-performing assets rose to 4.73 per cent of the gross advances at end of December 2021 as against 1.96 per cent in the year-ago period. Gross NPAs were at 4.68 per cent at end-September 2021.
Net NPAs ballooned to 2.52 per cent at December-end from 0.59 per cent a year ago but were down sequentially from 2.63 per cent at September-end.
The bank put aside a lower amount of Rs 96.98 crore for provisions and contingencies for Q3FY22 as against Rs 149.83 crore in the year-ago quarter.
Shares of the bank traded 3.4 per cent down at Rs 85.15 apiece on BSE.
Pick the best companies to invest
BECOME AN ETPRIME MEMBERRead More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by