Dhanlaxmi Bank Q4 results: PAT rises 63% to ₹38 cr; provisions, gross NPA dips sharply - key highlights here
1 min read 22 May 2023, 05:34 PM ISTProvisions declined to ₹18.14 crore in the quarter under review, as against ₹39.01 crore in Q4 of FY22. In terms of asset quality, the bank's gross NPA dipped to 5.19% in Q4FY23 versus 6.32% in Q4FY22 and 5.83% in Q3FY23.
PremiumDhanlaxmi Bank posted double-digit growth in March 2023 quarter on the back of a sharp decline in provisions and further improvement in asset quality. The lender posted a net profit of ₹38.2 crore in Q4FY23, rising by 63.3% as against a net profit of ₹23 crore in the same quarter a year ago.
Net interest income (NII), which is the difference between interest earned and expended, zoomed by 19.5% to ₹115.2 crore in Q4FY23 compared to NII of ₹96.4 crore in the March 2022 quarter.
In the December 2022 quarter, the bank's net profit and NII stood at ₹21.73 crore and ₹126.86 crore respectively.
The lender's net profit margin expanded to 12.25% and the operating margin also surged to 12.38% in March 2023 quarter.
Read here: PB Fintech Q4: Firm narrows net loss to ₹9 cr, revenue up 60%
Provisions declined to ₹18.14 crore in the quarter under review, as against ₹39.01 crore in Q4 of FY22. Provisions were at ₹32.58 crore in December 2022 quarter.
In terms of asset quality, the bank's gross NPA dipped to 5.19% in Q4FY23 versus 6.32% in Q4FY22 and 5.83% in Q3FY23. In the quarter, the net NPA stood at 1.16% also contracting from 2.85% in Q4FY22 and 1.82% in Q3FY23.
Read here: Why were Adani stocks soaring in trade today - explained
In value terms, the gross NPA was at ₹511.14 crore in Q4FY23, down from ₹533.54 crore in Q4 of the previous fiscal, and ₹539.11 crore in the preceding quarter.
As of March 31, 2023, Dhanlaxmi Bank's net worth stood at ₹698.83 crore.
On BSE, Dhanlaxmi Bank's stock price closed at ₹17.11 apiece on Monday, up by 2.03%. The stock will react to Q4 numbers on Tuesday.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
