Development Credit Bank strengthens on reporting 52% jump in Q4 net

Development Credit Bank is currently trading at Rs. 49.45, up by 1.20 points or 2.49% from its previous closing of Rs. 48.25 on the BSE.

The scrip opened at Rs. 49.40 and has touched a high and low of Rs. 49.85 and Rs. 48.50 respectively. So far 641278 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 66.00 on 14-Jul-2011 and a 52 week low of Rs. 30.80 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 51.85 and Rs. 45.25 respectively. The current market cap of the company is Rs. 1191.29 crore.

The promoters holding in the company stood at 21.00% while Institutions and Non-Institutions held 17.95% and 61.05% respectively. 

Development Credit Bank (DCB) has reported 52% jump in net profit at Rs 17.3 crore in the fourth quarter ended March 31, 2012 as against Rs 11.4 crore in the year-ago period on the back of lower provisioning and overall reduction in costs.

Meanwhile, the bank’s gross NPA ratio came down to 4.40% at Rs 7 crore during the quarter under review from 5.85% or Rs 11 crore. Its net NPA ratio improved to 0.57% from 0.96%.

For the full year, the bank saw its net profit more than doubling to Rs 55.1 crore from Rs 21.4 crore, driven by lower provisioning, which massively came down to Rs 29 crore from Rs 65 crore.

The lender saw its cost of funds going up to 7.57% from 7.16% in Q4, bringing down its NIM to 3.12% from 3.15%. For the full fiscal, NIM was 3.25% as against 3.13% last fiscal.