DCB Bank Q1 net profit up 16.63% at Rs 81.06 cr
17/07/2019 07:51
The bank reported standalone net profit of Rs 81.06 crore for the quarter ended June 30, 2019 as compared to Rs 69.50 crore in the same period last year, registering a year-on-yearÿgrowthÿof 16.63 per cent.

Interest income of the bank rose by 22.28 per cent at Rs 857.70 crore for the quarter ended June 30, 2019 as against Rs 701.43 crore in the corresponding period last year.

During the April-June quarter, total income rose substantially by 20.43 per cent to Rs 944.46 crore from Rs 784.26 crore in the year ago period.

Meanwhile, operating expenses increased by 21.01 per cent to Rs 777.92 crore from Rs 642.85 crore in the same period last year.

Operating profit surged 17.77 per cent to Rs 166.54 crore from Rs. 141.41 crore.

Provisions and Contingencies surged by 22.30 per cent at Rs 40.64 crore from Rs 33.23 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 11.64 per cent at Rs 304.75 crore versus Rs 272.97 crore in the year ago period. Non-interest income rose 4.74 per cent year-on-year to Rs 86.76 crore.

On the asset side, gross non- performing assets (NPAs)ÿroseÿto 1.96 per cent of the gross advances as at the end of June 30, 2019 from a level of 1.86 per cent year earlier. Its net NPAs or bad loans tooÿincreasedÿto 0.81 per cent of net advances on June 30, 2019 from 0.72 per cent a year ago.