Shares of Dhanlaxmi Bank Limited jumped 3 percent in early trade today post robust Q4 results. At 10:15 am the Dhanlaxmi Bank Limited stock was trading 2.05 percent higher at Rs 17.55 on NSE.
Private sector lender Dhanlaxmi Bank on Monday, May 22, reported a 63.3 percent year-on-year (YoY) jump in net profit at Rs 38.2 crore for the fourth quarter that ended March 31, 2023. In the corresponding quarter last year, the bank posted a net profit of Rs 23 crore.
Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, rose 19.5 percent YoY to Rs 115.2 crore, compared to 96.4 percent in the corresponding period in the previous fiscal.
The gross non-performing assets (GNPAs) stood at 5.19 percent in the March quarter against 5.83 percent in the December quarter. Net NPAs came at 1.16 percent against 1.82 percent quarter-on-quarter, the Thrissur-based bank said in a regulatory filing. In monetary terms, GNPAs stood at Rs 511.14 crore against Rs 539.11 crore QoQ, whereas net NPAs fell to Rs 109.20 crore against Rs 161.08 crore quarter-on-quarter.
Stock Performance
Dhanlaxmi Bank stock has significantly underperformed the Nifty Bank index over the last 5 years. The stock has lost 15.37 percent of its value over the last 5 years. Whereas the Nifty Bank index has given a return of 67.59 percent over the same duration.
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