Dhanlaxmi Bank Net Profit Declines 74% To Rs 3.66 Crore In July-September Quarter

Dhanlaxmi Bank introduced its July-September quarter outcomes for the monetary yr 2021-22, reporting a internet revenue of Rs 3.66 crore, in comparison with Rs 14.01 crore within the corresponding interval final yr, marking a decline of 74 per cent year-on-year.The non-public lender's whole revenue within the second quarter of the present fiscal stood at Rs 266.59 crore, in comparison with Rs 249.66 crore in the identical quarter final yr, in response to a regulatory submitting by Dhanlaxmi Bank to the inventory exchanges as we speak.The financial institution's provisions for the dangerous loans and contingencies for the September quarter rose to Rs 22.40 crore, in comparison with Rs 4.29 crore within the year-ago interval. The gross non-performing property (NPAs) rose to eight.67 per cent of the gross advances as of September 30, 2021, from 6.36 per cent within the year-ago interval.However, sequentially from gross NPAs had been down in comparison with 9.27 per cent within the previous April-June quarter. Value-wise, the gross NPAs had been price Rs 604.15 crore, up from Rs 448.72 crore. Net NPA additionally rose to 4.92 per cent - Rs 329.55 crore, in comparison with 1.66 per cent - Rs 111.45 crore."During the quarter ended September 30, 2021, NPA for which provision had already been made amounting to Rs 7,786 lakh has been technically written off," the financial institution stated.The provision protection ratio - together with technical write off as of September 30, 2021 stood at 74.18 per cent.On November 4, shares of Dhanlaxmi Bank settled 0.96 per cent greater at Rs 15.75 apiece on the BSE.