DCB - Q4FY13 results - Nirmal Bang

- Results were above our expectation
- NII increased 13.2% QoQ and 43.2% YoY to Rs 81.5 cr
- Profit before provisioning increased 35.4% QoQ and 80.8% YoY to Rs 43 cr
- PAT increased 26.9% QoQ to Rs 34.1 cr
- Gross NPA declined from 3.8% to 3.18% whereas net NPA stood at 0.75%
- The stock is trading at 1.23x Adj P/BV
- Outlook continues to remain positive

Source : Equity Bulls

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