DCB Bank's Q4 Net Profit Surges 9.85% to Rs 156 Crore

DCB Bank's Q4 profit rose 9.85% to Rs 156 crore, with total income increasing to Rs 1,581 crore. For FY24, net profit grew 15% to Rs 536 crore, while dividend of Rs 1.25 per share was recommended. Shares surged 10.17% on the BSE.

Private sector lender DCB Bank on Wednesday reported a net profit of Rs 156 crore in the March quarter, registering a 9.85 per cent jump over the year-ago period.

The bank had reported a profit Rs 142 crore in the fourth quarter of the 2022-23 fiscal.

The bank's total income rose to Rs 1,581 crore in the fourth quarter of FY24, from Rs 1,302 crore a year ago.

For full 2023-24 fiscal, DCB Bank's net profit stood at Rs 536 crore, a jump of 15 per cent in the year-ago period. In 2022-23 fiscal, the net profit stood at Rs 466 crore.

The bank's Board of Directors at its meeting on Wednesday also recommended a dividend of Rs 1.25 per equity share of face value of Rs 10 each, DCB Bank said in a regulatory filing.

Shares of DCB Bank closed at Rs 136.45, up 10.17 per cent over the previous close on the BSE.

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