Dhanlaxmi Bank Q2 net plunges 74% as bad assets rise

In worth terms, gross NPAs accrued to Rs 604.15 crore from Rs 448.72 crore successful the year-ago period.

Dhanlaxmi Bank connected Friday reported a 74% year-on-year (Y-o-Y) diminution successful its nett net to Rs 3.66 crore for the 4th ended successful September 2021 arsenic provisions roseate owed to a spike successful atrocious loans. The Thrissur-based lender had reported a nett net of Rs 14.01 crore successful Q2 of FY21 and Rs 6.79 crore successful the preceding quarter.

Provisions and contingencies person accrued by 422% to Rs 22.40 crore, arsenic against Rs 4.29 crore successful the year-ago period.

The plus prime has worsened with gross NPA arsenic a percent of gross advances rising to 8.67% for the 4th nether review, against 6.36% successful the 2nd 4th of past fiscal and 9.27% successful Q1 of FY22.

The nett NPA ratio was reported astatine 4.92%, compared to 1.66% reported successful the year-ago play and 4.58% successful the archetypal 4th of the existent fiscal.

In worth terms, gross NPAs accrued to Rs 604.15 crore from Rs 448.72 crore successful the year-ago period.

The full income for Q2 of FY22 was higher by 6.7% YoY to Rs 266.59 crore, portion the bank’s involvement income falling to Rs 229.01 and different income expanding to Rs 37.58 crore from Rs 5.69 crore successful the comparable play of past fiscal.

The proviso sum ratio (including method write-off) arsenic of September 30, 2021, was 74.18% and the superior adequacy ratio stood astatine 13.64%.