The company has reported net loss of Rs 17.16 crore in Q4FY18 against loss of Rs 21.74 crore in Q3FY18.
Shares of Dhanlaxmi Bank advanced 14 percent intraday Wednesday as company cut its losses in the quarter ended March 2018.
The company has reported net loss of Rs 17.16 crore in Q4FY18 against loss of Rs 21.74 crore in Q3FY18.
The bank had posted profit of Rs 8.81 crore in March 2017.
Net interest income, the difference between interest earned and interest expended, grew by 1.4 percent year-on-year to Rs 8,572 crore in January-March quarter.
On the asset quality front, gross non-performing assets as a percentage of gross advances were higher at 7.35 percent against 6.96 percent, but net NPA were lower at 3.19 against 4.08 percent on sequential basis.
Provisions and contingencies shot up 170 percent year-on-year (65.5 percent QoQ) to Rs 80.12 crore for the quarter ended March 2018.
Other income or non-interest income inched up 4.2 percent (up 37 percent QoQ) to Rs 29.70 crore and operating profit surged 63.7 percent (up 136 percent QoQ) to Rs 62.96 compared to year-ago.
At 15:06 hrs Dhanlaxmi Bank was quoting at Rs 20.60, up Rs 1.75, or 9.28 percent on the BSE.
Posted by Rakesh Patil