Dhanlaxmi Bank second quarter
(July-September) profit doubled to Rs 12.1 crore against Rs 6.1 crore reported
year-ago on provisions write-back.
Net interest income
during the quarter fell by 3.8 percent to Rs 87.4 crore YoY as advances degrew
by 4 percent to Rs 5,940 crore.
Deposits also declined
in quarter ended September 2018, down 1.65 percent to Rs 10,816.8 crore
compared to same period last year.
The bank has improved
its asset quality at the end of September quarter. Gross non-performing assets
as a percentage of gross advances were down at 7.81 percent against 8.94
percent in previous quarter and net NPAs, too, were lower at 2.92 percent compared
to 3.79 percent reported in June quarter.
Dhanlaxmi Bank has
written back provisions of Rs 18.19 crore in September quarter against
provisions of Rs 65.01 crore made in June quarter and Rs 23.87 crore in Q2FY18.
At operating level, it
has reported loss of Rs 6.04 crore against profit of Rs 29.92 crore in
corresponding period last fiscal.
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