DCB Bank shares jump nearly 9% as Q4 net soars

Mumbai: Shares of DCB Bank today surged nearly 9 percent after the company reported a 10.5 percent rise in net profit for the fourth quarter ended March 31.

The stock zoomed 8.76 percent to Rs 90.60 on BSE.

On NSE, shares of the private lender rallied 8.44 percent to Rs 90.50.

DCB Bank on Friday reported a 10.5 percent rise in net profit at Rs 70 crore for the March quarter. It had posted a net profit of Rs 63 crore in the year-ago period.

Total income of the company grew 19.86 percent to Rs 509.56 crore, from Rs 425.12 crore a year ago.

Overall provisions rose to Rs 27.25 crore, from the earlier Rs 14.32 crore.

DCB Bank's gross non-performing assets ratio improved to 1.51 per cent compared with 1.76 per cent last year. Its net NPA ratio stood at 0.75 percent as against the earlier 1.01 percent.