DCB Bank Ltd on Friday reported 24% drop in net profit for the fourth quarter on higher provisioning and higher tax expense.
Net profit for the quarter was Rs 52.86 crore as compared to Rs 69.53 crore a year ago. Nine analysts polled by Bloomberg had forecast a net profit of Rs 53.72 crore.
Net interest income (NII), or the core income a bank earns by giving loans, increased 30.57% to Rs 220.26 crore from Rs 168.69 crore last year. Other income increased to Rs 63.59 crore from Rs 61.45 crore in the same period last year, a rise of 3.48%.
