Dena Bank Q1 profit soars 21% to Rs 168 cr

NEW DELHI: State-owned lender Dena Bank on Today posted a 21 per cent jump in net profit to Rs 168 crore for the first quarter ended June 30, 2011.

The lender had posted a net profit of Rs 138.7 crore for the corresponding quarter last fiscal, Dena Bank said in a filing to the Bombay Stock Exchange (BSE).

Total income of the bank increased by 35 per cent during the period to Rs 1,652.5 crore from Rs 1,221.7 crore in the corresponding period an year-ago.

The interest income of the bank rose to Rs 1,528.1 crore during the reporting quarter from Rs 1,114.6 crore in the first quarter of the previous fiscal.

The bank's gross non-performing assets (NPAs) declined to 1.86 per cent during the quarter ended June 30 from 2.11 per cent in the same quarter an year ago.

Capital Adequacy Ratio of the bank increased to 13.1 per cent at the end of the April-June quarter as compared to 11.8 per cent in the corresponding quarter last year.