BackDhanlaxmi Bank Q1 Results: Net profit rises 7% to ₹28.3 crore on decline in bad loans
Dhanlaxmi Bank Q1 Results: The total income in the first quarter of the current fiscal rose to ₹5,857 crore against ₹3,797 crore, the bank said in a regulatory filing.
PremiumPrivate sector Dhanlaxmi Bank on Monday recorded a net profit of ₹28.30 crore in the April-June quarter, mainly due to a decline in bad loans. The lender had posted a net of ₹26.43 crore in the year-ago period.
The total income in the first quarter of the current fiscal rose to ₹5,857 crore against ₹3,797 crore, the bank said in a regulatory filing. The lender's interest income also increased to ₹341.40 crore from ₹236.82 crore in the same quarter a year ago.
On the asset quality side, the bank witnessed improvement with the gross non-performing assets (NPAs) easing to 5.21 per cent of the gross advances by June 2023 from 6.35 per cent a year ago.
The net NPA too declined to 1.09 per cent against 2.69 per cent in the year-ago period. However, provisions for bad loans increased to ₹27.64 crore as compared to ₹21.41 crore in FY23. Provision Coverage Ratio of the bank stood at 90.79 per cent as of June 2023.
The capital adequacy ratio of the bank improved to 12.57 per cent at the end of June from 12.19 per cent a year ago.
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