DCB Bank shares plunge 17% after private lender's bad loans rise in June quarter

New Delhi: Shares of DCB Bank plunged nearly 17 percent on Wednesday after the company witnessed a rise in its bad loan proportion during the quarter ended 30 June.

The scrip tanked 16.39 percent to close at Rs 199.65 on the BSE. During the day, it tumbled 17.92 percent to Rs 196.

On the National Stock Exchange (NSE), shares cracked 16.60 percent to close at Rs 199.45 apiece.

 DCB Bank shares plunge 17% after private lenders bad loans rise in June quarter

Representational image. Reuters.

In terms of traded volume, 14.75 lakh shares of the company were traded on the BSE and over one crore shares on the NSE during the day.

DCB Bank on Tuesday reported a rise of 17 percent in its net profit to Rs 81 crore for the first quarter ended 30 June.

The bank's net profit in the April-June 2018 quarter had stood at Rs 70 crore.

Total income during the quarter rose 10 percent to Rs 392 crore as against Rs 356 crore in the year-ago period, the bank said in a regulatory filing.

The lender witnessed an uptick in its bad loan proportion, with the gross non-performing assets (NPAs) rising to 1.96 percent of the gross advances as on 30 June, 2019, from 1.86 percent in the corresponding period of 2018.

Net NPAs rose to 0.81 percent, compared with 0.72 percent a year ago.

Updated Date: Jul 17, 2019 16:32:19 IST