Stock Market

Share Price Of Dena Bank Closes In Positive Territory Even After Q2 Widened Loss

The share price of Dena Bank managed to close in a positive area even as its loss augmented for the September quarter. The loss swelled to Rs 416.70 crore for July-September as against net loss of Rs 185.02 crore in a similar quarter a year ago.

The bank had detailed loss at Rs 185.02 crore for September quarter 2017 and Rs 721.71 crore in June quarter.

Net interest income amid the quarter developed by 20.8 percent to Rs 725.6 crore contrasted with Rs 600.67 crore in the same period a year ago.

Asset quality of the loan specialist additionally weakened, with the level of gross non-performing resources (NPAs) coming in at 23.64 percent in Q2 FY19 more than 17.23 percent a year sooner and 22.69 percent in the June quarter.

Level of net NPA likewise expanded to 11.70 percent amid the quarter under audit from 11.04 percent in the former quarter. The figure remained at 10.61 percent in a similar period a year back.

In total terms, a share price of Dena Bank and also net advances in Q2 were higher by 1.73 percent and 2.95 percent quarter-on-quarter to Rs 16,140.4 crore and Rs 6,902.4 crore separately. Provisions and possibilities dropped 22.4 percent consecutively to Rs 867.8 crore amid the quarter finished September 2018, however, were higher by 17.82 percent contrasted with year-back.

Bouncing as much as 9.29 percent, Dena Bank pared gains, before shutting 1.92 percent down today. The benchmark BSE Sensex closes shop at 33,891, down 176. Net intrigue salary, however, expanded 20.80 percent YoY to Rs 725.63 crore for the said quarter.

Provisions and possibilities remained at Rs 867.83 crore in Q2 FY19 as against Rs 736.66 crore in Q2 FY18 and Rs 1,118.75 crore in the June quarter, according to the report of Economic Times.

Other income fell 7.6 percent year-on-year to Rs 357.3 crore, however, working benefit expanded 11.2 percent to Rs 442 crore in Q2FY19.

At 13:30 hours IST, the share price of Dena Bank was citing at Rs 16.10, up Rs 0.50, or 3.21 percent on the BSE, according to the report of Moneycontrol.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Aanchal Ahuja is an enthusiastic, dedicated and committed professional always ready to give an instant response to the clients. She's an expert in managing the day to day office affairs, SEM/SEO, writing and fully aware of social media.

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