The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on October 17, 2018, took on record the limited reviewed financial results of the second quarter (Q2 FY 2019).
Q2 FY 2019 Highlights:
- The Bank's Profit After Tax was at INR 73 Cr. in Q2 FY 2019 as against INR 59 Cr. in Q2 FY 2018, an increase of 25%.
- Profit Before Tax was at INR 114 Cr. in Q2FY 2019 a stable growth as against INR 94 Cr. in Q2 FY 2018, an increase of 21%.
- Operating Profit of INR 146 Cr. over INR 124 Cr. for the same period as compared to last year.
- The Bank earned Net Interest Income of INR 282 Cr. as against INR 248 Cr. as compared to last year. Excluding one-offs in the previous year, Net Interest Income increased by 17%.
- Non-Interest Income of INR 73 Cr. against INR 65 Cr. for the same period as compared to last year. Core Fee Income grew by 17%.
- As compared to Q1 FY 2019, Cost Income Ratio has improved by 138 bps and stood at 58.88%.
- Return on Equity (Annualised) was at 11.13% in Q2FY 2019 as compared to 10.75% in Q1FY 2019 and 9.78% in 02FY 2018. Excluding one-offs of the previous year, both Cost Income Ratio and Return on Equity has improved as compared to previous year and last quarter.
- Net Advances grew to INR 22,069 Cr. as on September 30, 2018 from INR 17,395 Cr. as on September 30, 2017 a growth rate of 27%.
- As on September 30, 2018, the Bank grew Deposits by 27% to INR 26,169 Cr. Retail CASA & Retail Term Deposits continued to provide a stable resource base to the Bank. Retail Deposits (including Agri and Inclusive Banking) were 75.30% of Total Deposits.
- CASA ratio stood at 24.30% as on September 30, 2018 as against 25.88% as on September 30, 2017, Savings Accounts year on year growth rate was 30%. k) Net Interest Margin tor 02 FY 2019 stands at 3.83% as against 4.22% for 02 FY 2018 and 3.90% for Q1 FY2019.
- Gross NPA ratio stood at 1.84% as on September 30, 2018 as compared to 1.86% as on June 30, 2018.
- Net NPA ratio dropped to 0.70% as on September 30, 2018 as compared to 0.72% as on June 30, 2018.
- Capital Adequacy Ratio (CAR) was at 15.57% as on September 30, 2018 with Tier I at 12.02% and Tier II at 3.55% as per Basel Ill norms.
- As of September 30, 2018 the Net Restructured Standard Advances was approximately INR 35 Cr.
- The Bank's branch network increased to 328 branches as on September 30, 2018.
Speaking about the performance Mr. Murali M. Natrajan, Managing Director & CEO said, "We are satisfied with the progress achieved by the Bank. While continuing to achieve growth especially in Retail, MSME/SME and Agri & Inclusive Banking, strong focus on cost productivity is showing results. As of now, NPAs remain in control. We are steadily finding ways to improve capital efficiency. We are confident of delivering step-by-step improvement in Cost Income Ratio and Return on Equity while achieving growth.
Shares of DCB Bank Limited was last trading in BSE at Rs.160.4 as compared to the previous close of Rs. 168.15. The total number of shares traded during the day was 327073 in over 4421 trades.
The stock hit an intraday high of Rs. 173.35 and intraday low of 158.75. The net turnover during the day was Rs. 54694639.