State-owned lender Dena Bank has reported good numbers in the
July-September quarter. Asset quality worsened in the quarter but not as much
as others. Net profit grew by 24 percent year-on-year to Rs 239.6 crore in the
quarter ended September 2012.
Net interest income rose by 15 percent to Rs 594 crore from
Rs 515 crore during the same period.
Gross non-performing assets (NPAs) increased 17 basis points
quarter-on-quarter to 1.97 percent in the second quarter of current financial
year while net NPAs went up by 21 basis points to 1.22 percent.
Gross NPAs went up by 9 percent QoQ to Rs 1,170 crore while
net NPAs increased 21 percent QoQ to Rs 720 crore during the quarter.
Provisions against bad loans were Rs 104.5 crore in the
quarter as against Rs 103.4 crore in the previous quarter. Provision coverage
ratio was 72.5 percent as on September 30.
Capital adequacy ratio was 12.05 percent in the three months
period ended September 2012 as against 12.35 percent in the previous quarter.
At 13:32 hours IST, the stock rose 1.1 percent to Rs 110.35
on the Bombay Stock Exchange.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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