Private sector lender
DCB Bank
's profit in January-March quarter increased 10.4 percent year-on-year
to Rs 69.5 crore, driven by net interest income and other income but
higher provisions limited growth.
Net interest income, the difference between interest earned and interest
expended, grew by 30 percent to Rs 168.69 crore during the quarter
compared to Rs 129.68 crore in same quarter last year.
Other income shot up 32.8 percent on yearly basis to Rs 61.45 crore and
operating profit rose 42.6 percent to Rs 97.01 crore in quarter ended
March 2016, the bank said.
Provisions increased sharply by 30 percent quarter-on-quarter and 90.3
percent year-on-year to Rs 27.25 crore in last quarter of financial year
2015-16 but asset quality improved significantly.
Gross non-performing assets (as a percentage of gross advances) in
Q4FY16 declined to 1.51 percent from 1.98 percent in Q3FY16 and 1.76
percent in Q4FY15. Net NPA also slipped to 0.75 percent from 1.12
percent and 1.01 percent in same period.
DCB Bank said it has sold certain non-performing loans to an asset
reconstruction company during the current quarter and financial year.
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