DCB BANK
DCB Bank Q2 profit falls 10%
Private sector bank (DBC BANK) September Q3 net profit decline 10% to 36.93cr in compare to last year despite of strong net interest income, other incomes and operating profits. These profits got impacted due to high provisions and tax expanses.
The difference between interest earned and interest expanded grew by 27.44% to Rs.150cr from Rs.117.7cr YOY, led by strong advance growth. Other non-interest income during the Q3 increased by 31.8% yoy to Rs. 48.70cr.
Asset quality was stable with gross non-performing asset raising 9 basis points YOY to 1.9%. Yesterday at 15:28 share of DCB Bank was quoting at Rs. 130.40 down Rs. 7.05 or 5.13% on the Bombay stock exchange.
Technical outlook of DCB Bank.
Stock witnessed selling pressure after its poor Q3, stock opened 139 made a intraday high 140.90, low 129.65 and closed 133.15. Its MACD indicator turned negative this indicates bears will be favored once stock starts trading below its yesterdays low @ 129.65.
