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Dhanlaxmi Bank posts Rs 27cr net profit in Q4 FY19

twitter-logoPTI | May 8, 2019 | Updated 15:43 IST

New Delhi, May 8 (PTI) Private sector Dhanlaxmi Bank Wednesday reported Rs 27.61 crore net profit during the fourth quarter of FY 2019 ended March 31. The bank had registered a loss of Rs 17.16 crore in the similar January-March period of previous fiscal. The total income of the bank also fell to Rs 268.97 crore in the quarter, as against Rs 276.14 crore in the year-ago period, it said in a regulatory filing. The bank's provisions and contingencies came down to Rs 16.27 crore for the quarter, compared to Rs 80.12 crore kept aside for the same period of 2017-18. On the asset quality front, the bank witnessed a rise in its gross non-performing assets (NPAs) to 7.47 per cent of the gross advances at the fiscal-end, from 7.35 per cent at the end of same period a year ago. Net NPAs or bad loans stood at 2.41 per cent, down from 3.19 per cent. "In respect of a gems and jewellery borrower, where fraud was declared by some banks, the lender has declared it as fraud and fully provided for the entire funded exposure of Rs 50 crore in the quarter ended March 31, 2018," Dhanlaxmi Bank said. The bank's provision coverage ratio stood at 84.72 per cent at March-end 2019. Stock of the bank was trading 0.76 per cent up at Rs 19.85 on BSE. PTI KPM BAL

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