DCB Bank Ltd's Q2FY17 standalone net profit rises 29.73% yoy to Rs.48 crore : Beats Estimates

India Infoline Research Team | October 14, 2016 16:09 IST

DCB Bank Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
NII 190 26.7
NPA (%) 0.8 [32]
Provisions 26 18.2
Net Profit (adjusted) 48 29.7
***NPA change is bps


DCB Bank’s top-line and bottom-line performance for Q2FY17 beats estimates.

NII for the 2QFY17 grew ~26% yoy to Rs 190 Cr, beating estimates by 3%. NII was supported by improvement in CASA majorly due to savings accounts growing 22% yoy.

NIM came in at 3.96% in line with estimates led by ~29% yoy. Non-interest income grew ~26% yoy to Rs 62 Cr.

GNPA and NPA stood at 1.75% and 0.84 contracting 24 bps and 32 bps respectively. Both ratios were in line with estimates.

PAT managed to grow 31% yoy in 2QFY17 to Rs 48 Cr beating estimates by ~3.6%.

Capital Adequacy Ratio (CAR) was at 11.90% in 2QFY17 with Tier 1 at 10.76%.

Technical View:

DCB Bank Ltd is currently trading at Rs. 122, down by 1.35 points or 1.09% from its previous closing of Rs. 123.35 on the BSE.
The scrip opened at Rs. 124.8 and has touched a high and low of Rs. 128 and Rs. 120.65 respectively. So far 1599735(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

BSE 107.15 0.05 (0.05%)
NSE 107.20 0.10 (0.09%)

***Note: This is a NSE Chart

 

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