DCB Bank Records 13.5% Surge in Total Income in First Quarter

Shares of DCB Bank Ltd. surged after the total income increased 13.5 percent on a year-on-year basis for the first quarter of fiscal year 2017.

The total income stood at Rs 530.8 crore, led by the retail segment, while net profit increased marginally by 0.3 percent to Rs 47 crore compared to a year ago, the bank said in its filing on the Bombay Stock Exchange.

The bank recorded a 15.9 percent increase in expenditure to Rs 438 crore.

Gross non performing assets improved marginally, to 1.72 percent from 1.96 percent last year but worsened compared to the last quarter'S 1.51 percent. Net non performing assets too reduced slightly to 0.87 percent compared to 1.2 percent in the same quarter last year but deteriorated compared to last quarter.

Net interest income stood at Rs 180 crore, in line with estimates according to an Emkay research report. Other income from commission, fees and foreign exchange gains stood at Rs 60 crore.

The stock closed 5.1 percent higher on the BSE.