DCB Bank shares jump 14% after quarterly results. Details here

Shares of DCB Bank Ltd witnessed a sharp uptick in Wednesday's fag-end trade after the private lender declared its fourth-quarter (Q4 FY24) results. The stock surged 13.57 per cent to hit a high of Rs 140.65.

The bank's profit after tax (PAT) for Q4 FY24 came at Rs 156 crore, up 9 per cent from Rs 142 crore in the year-ago period. For FY24, PAT was at Rs 536 crore, registering a growth of 15 per cent compared to Rs 466 crore in FY23.

"Advances growth year-on-year (YoY) was at 19 per cent (YoY mortgages growth 22 per cent, co-lending growth 23 per cent, construction finance growth 26 per cent and agri and inclusive banking growth 30 per cent) and deposit growth YoY was at 20 per cent," DCB Bank said in a release.

As of March 31, 2024, gross non-performing asset (NPA) stood at 3.23 per cent. Net NPA was at 1.11 per cent. The provision coverage ratio (PCR) was at 77.30 per cent and PCR without considering gold loans NPAs was 78.18 per cent, DCB mentioned.

"Capital adequacy continues to be strong as the ratio was at 16.59 per cent (with Tier I at 14.53 per cent and Tier II at 2.06 per cent as per Basel III norms," it added.

Net interest income in March 2024 rose to Rs 508 crore from Rs 486 crore in Q4 FY23. Total income came at Rs 644 crore in Q4 FY24 as against Rs 608 crore in the same period a year ago.