Dhanlaxmi Bank slumps after reverse turnaround in Q4

Dhanlaxmi Bank lost 5.85% to Rs 44.25 at 15:08 IST on BSE, after the bank reported a net loss of Rs 134.26 crore in Q4 March 2014 as against net profit of Rs 28.66 crore in Q4 March 2013.

The result was announced after market hours on Friday, 23 May 2014.

Meanwhile, the S&P BSE Sensex was up 57.38 points or 0.23% at 24,750.73

On BSE, so far 10.17 lakh shares were traded in the counter as against average daily volume of 2.22 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 49.20 in intraday trade today, 26 May 2014. The stock hit low of Rs 42.05 so far during the day. The stock had hit a 52-week low of Rs 24.20 on 6 August 2013.

The stock had outperformed the market over the past one month till 23 May 2014, rising 15.91% compared with 7.94% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 56.93% as against Sensex's 19.29% rise.

The small-cap private sector bank has equity capital of Rs 133.53 crore. Face value per share is Rs 10.

Dhanlaxmi Bank's total income declined 5.7% to Rs 348.02 crore in Q4 March 2014 over Q4 March 2013.

Dhanlaxmi Bank reported a net loss of Rs 251.91 crore in the year ended 31 March 2014 as against net profit of Rs 2.62 crore in the year ended 31 March 2013. Total income fell 4% to Rs 1365.38 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

The bank's ratio of gross non-performing assets (NPAs) to gross advances was 5.98% as on 31 March 2014, as against 7.05% as on 31 December 2013 and 4.82% as on 31 March 2012. The ratio of net NPAs to net advances was 3.8% as on 31 March 2014, as against 4.64% as on 31 December 2013 and 3.36% as on 31 March 2013.

Dhanlaxmi Bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 8.67% as on 31 March 2014 as against 9.78% as on 31 December 2013.

The Kerala-based Dhanlaxmi Bank provides a suite of banking products and services to its customers across retail banking, microfinance and agricultural lending and small and medium enterprises group.

Powered by Capital Market - Live News