DCB Bank (DCB) has reported lower than estimated Q1FY24 PAT at INR 1.27bn (up 31% YoY, down 11% QoQ) due to lower other income, while asset quality disappointed. Annualised RoA stood at 0.94% for the quarter. It has made hefty investment in capacity (headcount and branches) and there is scope to improve cost efficiency in the medium term.