DCB Bank shares surged as much as 8.76 per cent in the early trade on Monday after the private lender on Friday reported a 10.5 per cent rise in net profit at Rs 70 crore for the fourth quarter ended March 31. DCB Bank had posted a net profit of Rs 63 crore in the year-ago period.
At 10.30 am, shares of DCB Bank were trading 5.94 per cent up at Rs 88.25. The scrip opened at Rs 89.35 and has touched a high and low of Rs 90.60 and Rs 87.60, respectively, in trade. Sensex was up 117.80 points, or 0.46 per cent, at 25,744.55.
Total income of DCB Bank climbed 19.86 per cent to Rs 509.56 crore, from Rs 425.12 crore a year ago.
DCB Bank’s gross non-performing assets ratio improved to 1.51 per cent compared with 1.76 per cent last year. Its net NPA ratio stood at 0.75 per cent as against the earlier 1.01 per cent.
For the year ended March 31, 2016, the bank has posted a marginal rise of 1.74 per cent in its net profit at Rs 194.52 crore as compared to Rs 191.18 crore for the same period in the previous year. Total income of bank increased by 20.83 per cent at Rs 1,918.92 crore for year under review as compared to Rs 1,588.14 crore for the period ended March 31, 2015.