DCB Bank Q2FY18 standalone net profit rises 21.7% yoy
India Infoline Research Team | October 16, 2017 15:57 IST
DCB Bank Ltd Q2FY18
Standalone Results Q2FY18: (Rs. in crore)
| Q2FY18 | YoY (%) | |
|---|---|---|
| NII | 248.9 | 30.8 |
| NPA (%) | 1.8 | 5 |
| Provisions | 30.2 | 14. |
| Net Profit (adjusted) | 58.9 | 21.7 |
DCB Bank posted Q2FY18 results today. NII for the quarter jumped 30.8% yoy to Rs.248.9 crore vs Rs.190.3 crore in previous year corresponding quarter. This was due to larger increase in interest income by 15.9% to Rs.587 crore in Q2FY18 vs Rs.506 crore in Q2FY17.
Asset quality remained steady for the quarter as GNPA’s s percentage to total advances rose by 5 bps to 1.80% vs 1.75% in previous year corresponding quarter. NNPA’s for the quarter also rose marginally to 0.90% vs 0.84% in Q2FY17. However, total GNPA’s for the quarter rose by 24% yoy to Rs.315 crore in Q2FY18 vs Rs.255 crore in Q2FY17.
Provisions also increased by 14% yoy to Rs.30.2 crore in Q2FY18 vs Rs.26.48 crore in previous year corresponding quarter. This led to 21.7% rise in net profit to Rs.58.9 crore in Q2FY18 vs Rs.48.4 crore in Q2FY17.
Capital position of the bank looks strong at 14.65% in Q2FY18 vs 11.9% in Q2FY17. Further, advances & deposits also rose 20% & 16% yoy respectively.
Technical View:
DCB Bank Ltd ended at Rs. 190.40, down by 0.75 points or 0.39% from its previous closing of Rs. 191.15 on the BSE.
The scrip opened at Rs. 194 and touched a high and low of Rs. 194 and Rs. 187 respectively. A total of 34,06,602(NSE+BSE) shares were traded on the counter. The stock traded below its 100 DMA.
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