Development Credit Bank (DCB), the private sector bank, today 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.

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%.

EPS for the current quarter stood at Rs 1.28, down 20.5% from Rs 1.61 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.

Shares of the bank declined Rs 4, or 2.91%, to settle at Rs 133.45. The total volume of shares traded was 516,413 at the BSE (Tuesday).