DCB Bank Q4 Results: PAT Grew 9% To Rs 156 Cr, NII Jumps 4.5%; Dividend Declared

DCB Bank's shares closed 10.17% higher on the BSE on Wednesday at Rs 136.45 a share following the release of the company's financial results for the quarter and fiscal year that ended on March 31, 2024.
The bank's Q4 FY 2024 Profit After Tax (PAT) amounted to Rs 156 Cr. Comparatively, Profit After Tax jumped by 9% from Rs 142 Cr in Q4 FY 2023. In Q4FY24, DCB Bank's Net Interest Income climbed by 4.50% from Rs 486 Cr in Q4FY23 to Rs 508 Cr, a 4.4% rise.

There was a 15% increase in the bank's Profit After Tax (PAT) from Rs 466 Cr in FY 2023 to Rs 536 Cr in FY 2024. The spike in advances was 19% YoY, while the growth in mortgages was 22%, the growth in co-lending was 23%, the growth in construction finance was 26%, and the growth in agri-inclusive banking was 30%. The growth in deposits was 20% YoY.

As of March 31, 2024, the Gross NPA was at 3.23%. As of March 31, 2024, net NPA was at 1.11%. As of March 31, 2024, the Provision Coverage Ratio (PCR) was at 77.30%, and 78.18% if Gold Loans NPAs were excluded. The capital adequacy ratio remained robust as of March 31, 2024, with Tier I at 14.53% and Tier II at 2.06% in accordance with Basel Ill regulations.

Mr. Murali M. Natrajan, Outgoing Managing Director & CEO said, "I want to thank all the stakeholders for giving me the opportunity to contribute to the progress of the Bank. I wish all the best to the new Managing Director & CEO and the management team who will take this Bank forward. I am confident that DCB Bank will continue its growth trajectory and value creation."

Mr. Praveen Kutty, Designated Managing Director & CEO said, "We continue our steady scale up journey, with growth in chosen products as per strategy, namely, Mortgages, Agri & Inclusive Banking, Construction Finance and Gold. Our deposit franchise has registered strong growth, while continuing to maintain its granular profile. Upgrades and Recoveries continues to be good, resulting in lower credit costs. We intend to continue to improve growth and profitability."

"The Board of Directors of the Bank at its meeting held today has also recommended a dividend of Re.1.25/- (Rupee One and Paise Twenty Five only) per equity share of face value Rs.10/- each of the Bank, subject to requisite approvals. The dividend on equity shares, will be paid/despatched within the prescribed time, after the same is approved by the shareholders at the ensuing Annual General Meeting (AGM) of the Bank. The Board of Directors has also fixed the record date for determining the eligibility of Members entitled to receive dividend on equity shares as Friday, May 10, 2024. Dividend, if approved by the Members of the Bank, shall be paid after the AGM to those members, whose names appear in the Bank's Register of Members/ Register of Beneficial Owners maintained by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on Friday, May 10, 2024," said DCB Bank in a regulatory filing.