Tag: Bank stock

NEW DELHI: Private sector Dhanlaxmi Bank reported a net profit of Rs 5.28 crore in the fourth quarter of FY2020-21, up by over two-folds from a year ago. The bank had posted a net profit of Rs 2.60 crore in the year-ago same quarter.

However, the net profit during the reported quarter of FY21 was down sequentially by 55.3 per cent from Rs 11.81 crore in the December 2020-21 quarter.

Income during Q4FY21 fell to Rs 242.18 crore from Rs 280.98 crore in the same quarter of FY2019-20, Dhanlaxmi Bank said in a regulatory filing on Saturday.

For the entire fiscal year 2020-21, the bank reported a net profit of Rs 37.19 crore, which fell by 43.5 per cent from year ago’s Rs 65.78 crore.

Total income during the year was also down at Rs 1,072.23 crore from Rs 1,100.44 crore in FY20.

Bank’s asset quality showed deterioration with the gross non-performing assets (NPAs) spiking to 9.23 per cent of the gross advances by end of March 2021 as against 5.90 per cent by end of March 2020.

In value terms, the gross NPAs of the lender rose to Rs 657.21 crore from Rs 401.22 crore.

Net NPAs also soared to 4.76 per cent (Rs 322.92 crore) from 1.55 per cent (Rs 100.94 crore).