Dhanlaxmi Bank Q4 Results: Profit surges 9x to Rs 29 crore despite provisions
Dhanlaxmi Bank posted a nearly nine-fold rise in Q4 net profit to ₹29 crore from ₹3.3 crore last year, aided by improved asset quality and strong operating performance despite higher provisions.
By Atmadip Ray, ET Bureau |
ETMarkets.com
Dhanlaxmi Bank has reported a near nine-fold jump in net profit for the fourth quarter at Rs 29 crore as compared with Rs 3.3 crore in the year ago period, despite making higher provisions.
Its operating profit stood at Rs 38.7 crore against a loss of Rs 17.7 crore in the year ago period.
The bank set aside Rs Rs 11.5 crore as provisions and contingencies as compared with a provision write-back of Rs 28.2 crore earlier.
Its gross non-performing assets ratio fell to 2.98% at the end of March from 4.05% a year back. Net NPA stood at 0.99% against 1.25%.
Its operating profit stood at Rs 38.7 crore against a loss of Rs 17.7 crore in the year ago period.
The bank set aside Rs Rs 11.5 crore as provisions and contingencies as compared with a provision write-back of Rs 28.2 crore earlier.
Its gross non-performing assets ratio fell to 2.98% at the end of March from 4.05% a year back. Net NPA stood at 0.99% against 1.25%.
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