Shares of DCB Bank Ltd skyrocketed 9% on 25 September after the company announced its quarterly earnings for the July-September quarter. 

The bank reported a 23% year-on-year (YoY) increase in net profit to Rs 155 crore for the quarter under review from Rs 127 crore reported in the same quarter last year. 

The total income of the lender for the quarter ended 30 September stood at Rs 714 crore, which is a 22.4% YoY increase from Rs 583 crore reported in the same quarter of the previous fiscal year. 

The company’s strong growth was driven by higher net interest income that stood at Rs 509 crore for the quarter, while the lender experienced a significant increase in non-interest income from Rs 107 crore to Rs 205 crore in the same quarter last year. 

DCB Bank’s gross non-performing asset stood at Rs 3.29% for the quarter from 3.36% in Q2FY24. 

Praveen Kutty, Managing Director & CEO of DCB Bank, said, “Our growth continues to be strong in both deposits and advances. With a greater focus on analytics and engagement, we are seeing positive impacts on the fee income line. Recovery trends remain encouraging, and we are confident of further improvements in productivity and profitability.”

The lender’s total assets for the quarter ended 30 September stood at Rs 68,955 crore. 

At 2:10 pm, the shares of DCB Bank were trading 4.17% higher at Rs 114.76 on NSE. 

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