Dhanlaxmi Bank's net profit down to Rs 45 lakh

Private sector lender Dhanlaxmi Bank on Friday posted a staggering decline in net profit to Rs 45 lakh for the quarter ended September 30.

The bank had a net profit of Rs 5 crore in the corresponding quarter last financial year, Dhanlaxmi said in a filing to BSE.

Total income came down to Rs 316.9 crore for the September quarter from Rs 342.58 crore in the corresponding quarter last year.

As far as bank’s asset quality is concerned, gross non-performing assets (NPAs) as a percentage to total advances rose to 8.75 per cent from 7.27 per cent in the same quarter a year ago.

However, the net NPAs came down marginally to 4.14 per cent from 4.60 per cent at the end of September 30, 2014.

Gross NPA in absolute terms, also rose to Rs 628.14 crore as compared to Rs 554.64 crore at the end of September 30, 2014, it added.

The Dhanlaxmi Bank stock ended down 2.34 per cent at Rs 25 on the BSE.