DCB Bank gains as Q3 PAT jumps 51% YoY to Rs 114 cr

DCB Bank rose 1.06% to Rs 114.70 after the bank's net profit jumped 51.1% to Rs 113.85 crore on 17.1% rise in total income to Rs 1,167.15 crore in Q3 FY23 over Q3 FY22.

The bank's profit before tax jumped 50.6% to Rs 153.43 crore in Q3 FY23 as compared with Rs 101.86 crore in Q3 FY22. Operating profit decreased by 2.51% to Rs 194 crore in Q3 FY23 as against Rs 199 crore in Q3 FY22.

Net interest income grew 29.28% to Rs 446 crore in Q3 FY23 as against Rs 345 crore in Q3 FY22. Net interest margin stood at 4.02% during the quarter as compared with 3.61% in corresponding quarter last year.

Advances grew 21% year on year to Rs 32,966 crore in Q3 FY23. Deposits jumped 23% year on year to Rs 39,506 crore in Q3 FY23.

Return on assets stood at 0.94% in Q3 FY23 as against 0.73% in Q3 FY22. Return on equity was at 11.34% in Q3 FY23 as compared with 8.28% in Q3 FY22.

Gross non performing assets (NPA) slipped Rs 1,223.31 crore as on 31 December 2022 as compared with Rs 1,339.75 crore as on 31 December 2021.

Gross NPA rose 3.62% in Q3 FY23 as compared with 4.78% in Q3 FY22. Net NPA was at 1.37% in Q3 FY23 as compared with 2.55% same quarter previous year.

Slippages stood at 5.20% as on 31 December 2022 as compared with 6.98% as on 31 December 2021. CASA ratio was at 27.62% in Q3 FY23 as against 25.94% in Q3 FY22.

The provision coverage ratio (PCR) as on 31 December 2022 was at 74.68% and PCR without considering gold loans NPAs was at 75.64%

Capital adequacy continues to be strong and as on 31 December 2022, the capital adequacy ratio was at 16.26% (with Tier I at 14.4 7% and Tier II at 1. 79% as per Basel Ill norms).

Murali M. Natrajan, managing director & CEO said, "We intend to improve frontline cost productivity in the coming months. GNPA, NNPA, credit costs and restructured portfolio- steadily improving."

DCB Bank is engaged in providing banking and financial services and governed by the Banking Regulation Act, 1949.

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