DCB Bank surges over 9% as Q4 results beat expectations

MUMBAI: Shares of DCB Bank rallied over 9 per cent intraday, after its fourth quarter net profit surged over 60 per cent to beat expectations.

The stock closed the day at Rs 119.90, up over 4%.

The bank reported net profit of Rs 62.9 crore, up 61.1 per cent, as compared to Rs 39.1 crore in the corresponding quarter last fiscal. Net interest income grew at Rs 129.7 crore, up 30 per cent, as against Rs 100 crore, in the same quarter a year-ago.

Its asset quality remained largely stable in the quarter ended March 2015. Gross NPA slipped to 1.76 per cent vs 1.87 per cent, quarter-on-quarter and net NPA stood at 1.01 per cent vs 1 per cent, QOQ.