DCB Bank shares plunge 14 pc post June quarter earnings

Shares of DCB Bank plunged 14 per cent on Wednesday after the company witnessed a rise in its bad loan proportion during the quarter ended June.

The scrip tumbled 14 per cent to Rs 205.30 on the BSE. At the NSE, it cracked 12.60 per cent to Rs 205.30. 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.

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.

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