DCB Bank shares tank 7% as asset quality, provisions drag Q4 profit
Monday, April 17, 2017, 5:05 PM
Private sector lender DCB Bank share price dropped nearly 7% intraday Monday after subdued profit growth on elevated provisions and asset quality. Profit during January-March quarter fell 23.88% year-on-year to Rs.52.9 crore as provisions increased 24.6% on yearly basis (up 11.1% QoQ) to Rs.33.9 crore. Asset quality weakened further during the quarter as net NPA jumped 15.2% to Rs.124.41 crore.