DCB Bank Share Price Hits One-Month High After Strong Q3 Results
DCB Bank share price rose as much as 8.99% to Rs 114.74 apiece, the highest level since Dec. 27.
Shares of DCB Bank Ltd. rose nearly 9% to hit one-month high on Monday after the company reported strong results for the third quarter of fiscal 2025. In addition, the volumes rose to 17 times the 30-day average.
The bank's standalone net profit during the quarter ended December rose 29.6% to Rs 151 crore, compared to Rs 127 crore in the year-ago period.
The net interest income—the difference of interest earned, and interest paid— for the quarter rose 15% to Rs 543 crore. This compares to Rs 474 crore reported in the corresponding quarter of the previous fiscal.
DCB Bank's asset quality also improved during the quarter under review, with the gross non-performing assets ratio declining to 3.11% from 3.29% in the July-September period.
The net NPA ratio contracted 10 basis points to 1.18% from 1.17% in the preceding quarter.
The advances growth was at 23% year-on-year and deposits growth was at 20% year-on-year. The provision coverage ratio as of Dec. 31 stood at 74.76% and the PCR without the coverage of considering gold loan NPAs was at 75.56%, according to the press release.
The capital adequacy ratio was strong at 16.29%.
DCB Bank Shares Hit One-Month-High
DCB Bank share price rose as much as 8.99% to Rs 114.74 apiece, the highest level since Dec. 27. This compares to a 1.04% decline in the NSE Nifty 50 index.
It has fallen 12.93% in the last 12 months. Total traded volume so far in the day stood at 17 times its 30-day average. The relative strength index was at 53.
Out of 22 analysts tracking the company, 20 maintain a 'buy' rating and two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 32.2%.
