DCB Bank announces Q1 FY 2025 Results: Profit stands 131 Cr; up by 3%

Mumbai: The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on July 24, 2024, approved the unaudited financial results for the quarter ended June 30, 2024 (Q1 FY 2025) along with limited review report by statutory auditors ‘Varma & Varma, Chartered Accountants’ and ‘B S R & Co. LLP, Chartered Accountants’.

Highlights:

1) The Bank’s Profit After Tax (PAT) for Q1 FY 2025 was at INR 131 Cr. In comparison Profit After Tax for Q1 FY 2024 was at INR 127 Cr., growth of 3%.

2) Advances growth year-on-year was at 19% and Deposit growth year-on-year was at 20%.

3) The Gross NPA as on June 30, 2024 was at 3.33%. Net NPA was at 1.18% as on June 30, 2024. The Provision Coverage Ratio (PCR) as on June 30, 2024 was at 76.00% and PCR without considering Gold Loans NPAs was at 77.19%.

4) Capital Adequacy continues to be strong and as on June 30, 2024, the Capital Adequacy Ratio was at 15.95% (with Tier I at 14.00% and Tier II at 1.95% as per Basel III norms).

 

Read Also : IndianOil Wins Big at FICCI Indian Sports Awards 2024 for Championing Sports Development

Speaking on the Q1 FY 2025 results Mr. Praveen Kutty, Managing Director & CEO said, “The growth momentum of both deposits and loans are in line with our expectations. As intended, growth in deposits is higher than the growth in loans. The credit costs continue to be low and fee income is steadily increasing. We expect the cost of funds to stabilise over the next few months, thereby improving the NIM. Going forward, we expect to see a steady improvement in productivity and profitability”

Read Also : NTPC Talcher Kaniha Shines with Prestigious Platinum Award

About DCB Bank

DCB Bank Limited is a new generation private sector bank with 445 branches across 20 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. It is professionally managed and governed. DCB Bank has contemporary technology and infrastructure, including state-of-the-art India’s first Aadhaar number & fingerprint based biometric ATMs, and internet banking for personal as well as business banking customers.

The Bank’s business segments are Retail, micro-SMEs, SMEs, mid-Corporate, Microfinance Institutions (MFI), Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non Banking Finance Companies (NBFC).

Read Also : WIPS WCL receives Best Activity Award