Dhanlaxmi Bank Q3 profit declines multi-fold to Rs 3 crore

Dhanlaxmi Bank Q3 profit declines multi-fold to Rs 3 crore

Dhanlaxmi Bank on Friday posted a multi-fold decline in its net profit to Rs 3 crore in the third quarter ended December 2023. The private sector bank had earned a net profit of Rs 22 crore in the year-ago period.

The lenders’ total income increased to Rs 343 crore during the third quarter of the ongoing fiscal as against Rs 312 crore a year ago, Dhanlaxmi Bank said in a regulatory filing. The bank's interest income rose to Rs 308 crore compared to Rs 276 crore in the third quarter of the previous year. The bank's Gross Non-Performing Assets (NPAs) declined to 4.81 per cent of the gross loans by the end of December 2023 from 5.83 a year ago.

Similarly, net NPAs, or bad loans, came down to 1.27 per cent from 1.82 per cent at the end of the third quarter. Capital Adequacy Ratio of the bank declined to 12.37 per cent over 12.52 at the end of December 2022.