DCB Bank Q3 net profit jumps 52% to Rs 114 cr

Private sector DCB Bank on Saturday reported a 52 per cent jump in its profit to Rs 114 crore for the December 2022 quarter, mainly due to a decline in bad loans.

The bank's net profit stood at Rs 75 crore in the same quarter of the preceding financial year.

The total income increased to Rs 541 crore in the latest December quarter from Rs 463 crore in the year-ago period, the bank said in a regulatory filing.

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At the same time, net interest income rose to Rs 446 crore against Rs 345 crore a year ago.

On the asset quality front, the bank recorded an improvement, with gross NPAs (Non-Performing Assets) declining to 3.62 per cent compared to 4.78 per cent at the end of the third quarter of the previous fiscal.

Net NPAs too eased to 1.37 per cent compared to 2.55 per cent in the year-ago period.

The capital adequacy ratio stood at 16.26 per cent in the December quarter.