Dhanlaxmi Bank spurts after turnaround in Q4

Dhanlaxmi Bank was up 5.59% to Rs 42.50 at 10:48 IST on BSE after the bank reported net profit of Rs 8.81 crore in Q4 March 2017, as against net loss of Rs 131.60 crore in Q4 March 2016.

The result was announced after market hours yesterday, 16 May 2017.

Meanwhile, the S&P BSE Sensex was up 21.62 points or 0.07% at 30,604.22. The S&P BSE Small-Cap index was up 14.85 points or 0.09% at 15,724.44

On the BSE, 10.25 lakh shares were traded on the counter so far as against the average daily volumes of 4.81 lakh shares in the past one quarter. The stock had hit a high of Rs 44.70 so far during the day, which is a 52-week high. The stock hit a low of Rs 42 so far during the day.

The stock had hit a 52-week low of Rs 17.20 on 24 May 2016. It had outperformed the market over the past one month till 16 May 2017, surging 8.34% compared with the Sensex's 3.81% rise. The scrip had also outperformed the market over the past one quarter, advancing 67.01% as against the Sensex's 8.06% rise.

The small-cap bank has equity capital of Rs 209.85 crore. Face value per share is Rs 10.

The bank's total income declined 8.5% to Rs 296.34 crore in Q4 March 2017 over Q4 March 2016.

The bank's gross non-performing assets (NPAs) stood at Rs 315.60 crore as on 31 March 2017 as against Rs 503.83 crore as on 31 December 2016 and Rs 458.92 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 4.78% as on 31 March 2017 as against 7.59% as on 31 December 2016 and 6.36% as on 31 March 2016. The ratio of net NPAs to net advances stood at 2.58% as on 31 March 2017 as against 2.9% as on 31 December 2016 and 2.78% as on 31 March 2016.

The bank's provisions and contingencies rose 42.1% to Rs 29.65 crore in Q4 March 2017 over Q4 March 2016.

Dhanlaxmi Bank is a private-sector bank incorporated in 1927 at Thrissur in Kerala.

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