Development Credit Bank Q3 PAT seen up 60% at Rs 13 cr

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Development Credit Bank Q3 PAT seen up 60% at Rs 13 cr

Development Credit Bank is likely to report a profit after tax of Rs 13 crore in the third quarter of FY12, a massive growth of 60% as compared to Rs 8.2 crore in the corresponding quarter of last fiscal.

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Development Credit Bank is likely to report a profit after tax of Rs 13 crore in the third quarter of FY12, a massive growth of 60% as compared to Rs 8.2 crore in the corresponding quarter of last fiscal.

Net interest income is expected to go up by 22% to Rs 60 crore from Rs 49.3 crore year-on-year.

Expectations

·          Asset quality expected to remain stable, thus provisions expected to decline

·          Business expected to grow below industry average at about 15%

·          Margin compression likely

·          Key watchables are their expansion plans and growth momentum they show this time