DCB Bank Q1 Result, Reports Rs 47 cr profit

Private lender DCB Bank (Development Credit Bank) today reported a marginal rise in net profit at Rs 47.03 crore for first quarter ended June 30, 2016. 

The bank's net profit was at Rs 46.87 crore in the corresponding period last fiscal. Total income has increased to Rs 530.75 crore during the quarter from Rs 467.44 crore in the year ago period, it said in a regulatory filing. 

Also, the bank improved on its asset quality with the gross non-performing assets (NPAs) or bad loans falling to 1.72 percent of gross advances as of June 2016 from 1.96 percent year-ago period. Net NPAs, too narrowed down to 0.87 percent from 1.22 percent a year earlier. 

However, provisions towards bad loans and contingencies were kept higher at Rs 20.53 crore for April-June quarter of current fiscal as against Rs 18.03 crore in same period last fiscal.

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IndusInd Bank Q1 profit rises 26% to Rs.661.38 crore on higher income

IndusInd Bank Ltd on Monday reported a 26% increase in its June quarter net profit on higher interest on loans, fees, and commissions.

Net profit in the fiscal first quarter rose to Rs.6 Rs.525.04 crore a year ago. Ten analysts polled by Bloomberg had forecast a net profit of Rs.651.30 crore.

Net interest income (NII), or the core income a bank earns by giving loans, increased 38.32% to Rs.1,356.42 crore from Rs.980.66 crore last year. Non-interest income, including fees and commissions, rose to Rs.972.97 crore from Rs.761.61 crore, a rise of 27.75%.

Total advances as on 30 June were at Rs 93,678 crore, up 30% from the same period last year. Of this, corporate sector advances were at Rs 55,087 crore, up 30% from last year, while retail advances rose 29% from a year ago to Rs 38,591 crore.

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