Dhanlaxmi Bank gains 12% as Q2 profit jumps 81%


Shares of Dhanlaxmi Bank rose more than 12 percent intraday on October 31 after the company posted stellar numbers for the quarter ended September 2019.

The company’s Q2 net profit jumped 81.6 percent at Rs 22.1 crore against Rs 12.1 crore in the same quarter last year.

The net interest income (NII) of the company rose 15.1 percent at Rs 100.6 crore versus Rs 87.4 crore.

The company’s gross NPA was down at 7.06 percent, while net NPA was down at 1.65 percent, QoQ.

In absolute terms, the gross NPA fell to Rs 476.1 crore from Rs 496.5 crore, while net NPA was down at Rs 105.3 crore versus Rs 145.2 crore, QoQ.

The loan growth of the bank for the quarter stood at 7.2 percent, YoY.

At 1224 hrs, Dhanlaxmi Bank was quoting at Rs 17.43, up Rs 1.15, or 7.06 percent on the BSE.

News Source:- moneycontrol

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