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Development Credit Bank soars on reporting 98% surge in Q4 net profit

15 Apr 2013 Evaluate

Development Credit Bank is currently trading at Rs. 44.30, up by 0.75 points or 1.72% from its previous closing of Rs. 43.55 on the BSE.

The scrip opened at Rs. 43.50 and has touched a high and low of Rs. 44.70 and Rs. 43.50 respectively. So far 1, 86,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 52.80 on 13-Dec-2012 and a 52 week low of Rs. 36.75 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs. 45.45 and Rs. 41.75 respectively. The current market cap of the company is Rs. 1,107 crore.

The promoters holding in the company stood at 18.47% while Institutions and Non-Institutions held 24.08% and 57.45% respectively.

Development Credit Bank has reported results for the quarter & year ended March 31, 2013.

The bank has registered 97.51% rise in its net profit after at Rs 34.11 crore in Q4FY13 as compared to Rs 17.27 crore in the same quarter previous year. For the full year, the bank has reported a net profit of Rs 102.06 crore for the year ended March 31, 2013, a growth of 85.29% as compared to Rs 55.08 crore for the year ended March 31, 2012. Total income has increased to Rs 1033.12 crore in FY13 from Rs 517.34 crore in FY12, up by 99.70%.

As on March 31, 2013, the bank’s deposits grew by 32% at Rs 8,364 crore while, net advances grew by 25% and stood at Rs 6,586 crore as compared to March 31, 2012.

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