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DCB Bank Shares Plunge 20 Per cent On Poor Q2 Numbers
Shares of the DCB Bank were seen trading lower by 20 per cent on Wednesday after the company reported poor set of numbers for the quarter ending September 30, 2015.
On Tuesday, the company reported a decrease of 10.1 per cent in its standalone net profit at Rs 36.93 crore. The company said the main reason was due to higher provisions and tax expenses.
The bank had posted the net profit of Rs 41.09 crore in corresponding quarter of previous fiscal, said DCB Bank Ltd.
While, total income of the bank was up 25 per cent to Rs 464.87 crore against Rs 371.83 crore in same quarter of previous year.
Shares of the bank were seen trading at RS 106.80, lower by 19.97 per cent on BSE at 11.12 am IST. It touched an intra-day low of Rs 106.80 during the trade.
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