Dhanlaxmi Bank gains 8% as co swings to Rs 17.10 cr profit in Q3

New Delhi: Private sector lender Dhanlaxmi Bank today posted a net profit of Rs 17.10 crore for the third quarter ended 31 December 2014 despite a rise in bad loans. [caption id=“attachment_2020961” align=“alignleft” width=“380”]  Reuters[/caption]The bank had a net loss of Rs 119.37 crore in the October-December quarter of the 2013-14 financial year. Shares of the bank closed at Rs 36.05 per unit, up 8.26 percent on the BSE. As far as bank’s asset quality is concerned, gross NPAs as a percentage to total advances rose to 7.37 percent from 7.05 percent in the same quarter an year ago. However, the net NPAs came down marginally to 4.52 percent from 4.64 percent at the end of December 2013, Dhanlaxmi Bank said in a filing to the BSE. Gross NPA in absolute terms, also rose to Rs 575.38 crore as compared to Rs 546.32 crore at the end of December 2013. The total income rose to Rs 344.67 crore for the quarter ended 31 December 2014-15 from Rs 327.52 crore in the same quarter last fiscal. During the first three quarters of 2014-15, Dhanlaxmi Bank net profit rose at Rs 25.14 crore, compared to loss of Rs 117.64 crore in the year-ago period. PTI