DCB Bank Q2FY2022 profit after tax drops by 21% to Rs 82cr

DCB Bank has reported INR 65 crores in profit after tax (PAT) for the second quarter of the fiscal year 2022 (Q2FY2022), a 21% decline compared to INR 82 crores in the same quarter in FY 2021.

In the previous quarter, that is Q1FY2022, the profit after tax of DCB Bank was INR 34 crores.

The operating profit of the private sector scheduled commercial bank based in Mumbai for the quarter ended 30 September 2021 was INR 175 crores, an 18% drop compared to INR 213 crores in Q2FY2021.

DCB Bank’s earned net interest income for Q2FY2022 was INR 323 crores, compared to INR 334 crores for the same period in the previous fiscal year.

As on 30 September 2021, the number of branches of DCB Bank was 356. In the next 12-15 months, the commercial banking group plans to add 20-30 branches.

Murali M. Natrajan — Managing Director and CEO of DCB Bank said: “The second quarter was much better than the first quarter of FY 2022. While slippages were higher than pre-covid levels, intense efforts on collections & recoveries coupled with improved environment helped to deliver substantial upgrades / recoveries.

“This also reflects the underlying resilience of the portfolio quality. New business disbursal picked up momentum and was much better than last year same period and this year first quarter. We are confident of steadily improving business performance in the coming quarters (assuming no further disruption by Covid-19).”