Dhanlaxmi Bank Q3 Results: Profit soars 6.5x YoY to Rs 19 crore

Dhanlaxmi Bank on Tuesday reported a net profit of Rs 19.85 crore for the third quarter to December 31, 2024, up about 6.5 times over Rs 3 crore in the year ago quarter.

Rise in total income and lower provision helped the Kerala-based bank to improve profitability.

Pre-provision operating profit for the quarter stood at Rs 26.58 crore against Rs 11.16 crore in the corresponding quarter last fiscal. Provisions were lower at Rs 6.7 crore against Rs 8.1 crore.


Total income was higher at Rs 377 crore against Rs 343 crore with net interest income rising about 12% at Rs 128 crore for the quarter against Rs 114 crore in the year ago period.

The bank's asset quality improved with gross non-performing assets ratio falling to 3.53% at the end of December from 4.81% a year back. Net NOA was at 0.86% against 1.27%.

The bank's board on Tuesday also approved the raising of Rs 298 crore via rights issue. The bank alloted 14.17 crore equity shares at Rs 21 apiece at a face value of Rs 10. COnsequently, the paid-up equity share capital of the bank has risen to Rs 395 crore.