Private banking player, surged nearly 10 percent following a 22.6 percent year-on-year growth in net profit and a drop in non-performing assets in Q2 FY25.
Share price variations:
With a market capitalization of Rs. 3,572.53 crores, DCB Bank Ltd. made an intraday high of Rs. 120.99 representing a 9.8 percent increase from its previous closing price of Rs. 110.16 per share.
Reason for the Rise:
According to exchange filings, DCB Bank Ltd. reported a 22.6 percent year-on-year increase in net profit to Rs 155.47 crore, in Q2FY25 from Rs 126.79 crore in Q2FY24. On a quarter-on-quarter basis, net profit increased by 18.35, falling from Rs. 131.36 crore in Q1 FY25.
Net interest income grew by 6.9 percent year-on-year to Rs. 509 crore, compared to Rs. 476 crore in the same period last year. Gross Non-Performing Assets(NPA) dropped to 3.29 percent in Q2FY25 from 3.33 percent in Q1FY25.
For the first half of FY25, Net Interest Income rose by 6.2 percent to Rs. 1,005.74 crores, up from Rs. 946.43 crores in H1 FY24, while net profit showed an increase of 13.04 percent, reaching Rs. 286.83 crores compared to Rs. 253,72 crores in the previous year.
The Mortgages division has seen a 22 percent YoY increase while the Co-lending division and Construction Finance division saw 19 percent and 29 percent while agri and inclusive banking saw a growth of 25 percent.
About the company:
Incorporated in 1995 DCB Bank Ltd, is a private banking player whose target market is mainly small business owners, self-employed, and small business segments.
As of September, the company operates 451 branches, and 428 ATMs, and serves 12 states. Branch distribution includes 28 percent in metro areas, 28 percent in urban, 25 percent in semi-urban, and 19 percent in rural locations.
Written By: Joseph Pv
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