DCB Bank Reports Q1 FY 2025 Profit After Tax of INR 131 Cr

The Board of Directors of DCB Bank Ltd. 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). 

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.”

DCB Bank Unaudited Results for the Quarter ended June 30, 2024