Dena Bank Dips 6.5% as Bad Loans Rise in Second Quarter

Mumbai: Dena Bank's scrip on Monday fell by 6.5 per cent after the company reported higher non-performing loans (NPL) in the second quarter of FY16.

Bank's gross non-performing assets slipped further to 6.84 per cent of gross advances as of September 2015, from 5.12 per cent a year ago.

Net NPAs were at 4.65 per cent of net advances, as against 3.59 per cent during the same quarter last fiscal. 

The stock dipped by 6.14 per cent to Rs 40.50 on BSE and on the NSE, shares of the company plunged 6.47 per cent to Rs 40.45.

Dena Bank on Saturday reported a fall of 24.85 per cent in net profit at Rs 38.76 crore during July-September quarter of 2015-16.

The bank's net profit during the same period of the previous financial year was at Rs 51.58 crore. 

Total income for the said quarter decreased from Rs 2,885.22 crore in the year-ago period to Rs 2,872.08 crore, it had said in a BSE filing.