Dhanlaxmi Bank shares up 5% on Q4 profit

By Rob 0

New Delhi: Shares of Dhanlaxmi Bank on Wednesday rose by almost 5% after the company reported a profit of Rs9 crore for the March quarter of last fiscal.

The stock jumped 4.97% to settle at Rs 42.25 on BSE. During the day, it soared 11% to Rs 44.70 – its 52-week high. On NSE, the stock gained 4% to close at Rs 42.

The company added Rs 42.6 crore to Rs 886.60 crore in its market valuation. In terms of volume, 14.91 lakh shares of the company were traded on BSE and over 93 lakh shares changed hands at NSE during the day.

Dhanlaxmi Bank yesterday reported a profit of Rs 9 crore for the March quarter of last fiscal as it managed to rein in non-performing assets. In comparison, the bank had registered a loss of Rs 131.60 crore for the fourth quarter of the previous fiscal, 2015-16.

However, the total income during the January-March quarter of 2016-17 declined to Rs 296.34 crore, as against Rs 323.98 crore in the same period a year ago.

Bank’s gross bad loans or non-performing assets (NPAs) during the quarter under review declined to 4.78%, from 6.36% in the year-ago period. Net NPAs at 2.58% also showed a slight decline, compared to 2.78% a year ago.

First Published: Wed, May 17 2017. 04 59 PM IST

[Source: livemint.com]