Development Credit Bank (DCB), the private sector bank, crashed today by hitting lower circuit post Q2 results. On Tuesday, the bank reported a 10.12% fall in net profit due to sharp increase in provision for credit losses and tax expense for the quarter ended Sep. 30, 2015. The bank's net profit decreased to Rs 369.3 million as compared to Rs 410.9 million in the same period last year.

During the quarter, provision for credit losses jumped 57.6% to Rs 216.7 million, while tax expense jumped 3.89 times to Rs 195 million, when compared with prior year period.

Total income for the current quarter increased to Rs 4,648.7 million from Rs 3,718.3 million for the quarter ended Sep. 30, 2014, representing an increase of 25%.  

Shares of DCB Bank are trading at Rs 106.80, down Rs 26.65, or 19.97% at the Bombay Stock Exchange (BSE) on Wednesday at 10:24 a.m. The scrip has touched an intra-day high of Rs 120 and low of Rs 106.80. Total volume of shares traded on the bourses today was higher by 1,834.92% to 20,245,551 compared with 22-day average volume of 1,046,325.