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 interest income of the bank rose to Rs 308 crore compared to Rs 276 crore in the third quarter of the previous year.

Gross Non-Performing Assets of the bank declined to 4.81% 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% from 1.82% at the end of the third quarter.

Capital Adequacy Ratio of the bank declined to 12.37% over 12.52% at the end of December 2022.