Dhanlaxmi Bank has dipped 6% to Rs 32.15 after reporting a net loss of Rs 119 crore for the third quarter ended December 31, 2013 (Q3), due to higher provisioning for bad loans. The private lender had profit of Rs 4 crore in a year ago quarter.
Net interest income (interest earned minus interest expended) of the bank too, declined 25% at Rs 56 crore in December quarter, compared to Rs 75 crore in the corresponding quarter of previous fiscal.
The bank made provisioning for bad loans at Rs 112 crore during the third quarter, up from Rs 9.71 crore.
Its gross NPA as a percentage of advances, increased to 7.05% from 4.19%, while net NPA rose to 4.64% from 2.93% during the quarter under review.
The stock opened at Rs 33 and touched a low of Rs 31.65 on the NSE. A combined around 419,000 shares changed hands on the counter till noon deals.
Net interest income (interest earned minus interest expended) of the bank too, declined 25% at Rs 56 crore in December quarter, compared to Rs 75 crore in the corresponding quarter of previous fiscal.
The bank made provisioning for bad loans at Rs 112 crore during the third quarter, up from Rs 9.71 crore.
Its gross NPA as a percentage of advances, increased to 7.05% from 4.19%, while net NPA rose to 4.64% from 2.93% during the quarter under review.
The stock opened at Rs 33 and touched a low of Rs 31.65 on the NSE. A combined around 419,000 shares changed hands on the counter till noon deals.
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