New Delhi, Oct 30 (PTI) Private sector DCB Bank on Saturday reported 21 per cent fall in its net profit at Rs 64.94 crore in quarter ended September 2021 of this fiscal.

The bank had registered a net profit of Rs 82.29 crore in the same quarter of the previous fiscal year.

Also Read | 1 TB Internal Phone Memory! Samsung Ready With World's First 1TB Chip for Smartphones.

Total income during July-September period of 2021-22 was up slightly at Rs 967 crore from Rs 959.33 crore in same period of 2020-21, DCB Bank said in a regulatory filing.

However, bank's income from interest was down at Rs 869.27 crore in the reported quarter, as against Rs 878.45 crore in year-ago period.

Also Read | 10-0! Jose Mourinho Starts AS Roma Managerial Career in Style by Defeating Serie D Side Montecatini.

There was dent on bank's asset quality, as gross non-performing assets (NPAs) were up 4.68 per cent of the gross advances by end of September 2021 from 2.27 per cent in year-ago period. It was down from 4.87 per cent by end of June 2021.

Likewise, net NPAs (or bad loans) too rose to 2.63 per cent from 0.83 per cent.

In absolute terms, gross NPAs were worth Rs 1,284.93 core as against Rs 573.70 crore, while net NPAs were of Rs 706.95 crore, up from Rs 205.77 crore.

Citing the September 2020 interim order of the Supreme Court, that directed banks that accounts which were not declared NPA till August 31, 2020 shall not be declared as NPA till further orders, it said the bank has not classified any account which was not NPA as of August 31, 2020, as NPA for the period ended September 30, 2020.

"However, if the bank had classified borrower accounts as NPA after August 31, 2020, the bank's proforma gross NPA ratio and proforma net NPA ratio would have been 2.39 per cent and 0.92 per cent, respectively for the period ended September 30, 2020."

Provisions for bad loans and contingencies for the quarter, however, were down at Rs 86.33 crore as against Rs 101.45 crore.

The bank said it holds a contingency provision of Rs 78.46 crore during the quarter ended September 30, 2021 towards further likely impact of Covid-19 on standard restructured and stressed assets.

"As on September 30, 2021, in addition to this contingency provision mentioned, the bank also holds floating provision amounting to Rs 115.07 crore, besides provisions for standard assets and specific non-performing assets," DCB Bank said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)