Stocks

DCB Bank shares plunge nearly 17% post June quarter earnings

PTI New Delhi | Updated on July 17, 2019 Published on July 17, 2019

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Shares of DCB Bank plunged nearly 17 per cent on Wednesday after the company witnessed a rise in its bad loan proportion during the quarter ended June 30.

The scrip tanked 16.39 per cent to close at Rs 199.65 on the BSE. During the day, it tumbled 17.92 per cent to Rs 196. On the National Stock Exchange (NSE), shares cracked 16.60 per cent to close at Rs 199.45 apiece.

In terms of traded volume, 14.75 lakh shares of the company were traded on the BSE and over one crore shares on the NSE during the day.

DCB Bank Tuesday reported a rise of 17 per cent in its net profit to Rs 81 crore for the first quarter ended June 30. The bank’s net profit in the April-June 2018 quarter had stood at Rs 70 crore.

Read also: DCB Bank reports 17% jump in profits

Total income during the quarter rose 10 per cent to Rs 392 crore as against Rs 356 crore in the year-ago period, the bank said in a regulatory filing.

The lender witnessed an uptick in its bad loan proportion, with the gross non-performing assets (NPAs) rising to 1.96 per cent of the gross advances as on June 30, 2019, from 1.86 per cent in the corresponding period of 2018. Net NPAs rose to 0.81 per cent, compared with 0.72 per cent a year ago.

Published on July 17, 2019
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