Page 2 - Dhanlaxmi Bank

Dhanlaxmi Bank Q2 profit jumps to Rs 16 cr on lower bad loan provisions

Dhanlaxmi Bank on Wednesday reported a multi-fold rise in net profit at Rs 15.89 crore for September quarter 2022-23 on lower provisions for bad loans. The bank had clocked a net profit of Rs 3.66 crore in the year-ago period. In the previous June quarter, the bank incurred a net loss of Rs 26.43 crore. Total income increased to Rs 285.26 crore in September quarter from Rs 266.79 crore earlier, Dhanlaxmi Bank said in a regulatory filing. Interest income rose to Rs 262.50 crore from Rs 229.01 crore. Operating profit was up 35 per cent at Rs 35.35 crore. Gross non-performing assets (NPAs) of the bank were 6.04 per cent of gross advances at the end of September 2022 as against 8.67 per cent by the year-ago period. Net NPAs or bad loans were trimmed to 2.32 per cent from 4.92 per cent. Thus, provisions for bad loans and contingencies fell to Rs 19.46 crore for the quarter, as against Rs 22.60 crore set aside for the year-ago period. Dhanlaxmi Bank said it has recovered Rs 3.32 crore

Dhanlaxmi Bank gets legal breather in fresh twist to tussle for board seat

Kerala HC on Tuesday ruled in favour of the bank on the issue of writ petitions filed by four persons demanding board positions

Dhanlaxmi Bank's shareholders seek to curb CEO's spending powers

The shareholders seek to suspend powers exercised by CEO Shivan JK in respect of all capital and revenue expenditure, except statutory payments such as salaries and wages

Dhanlaxmi Bank shareholders seek to curb CEO spending powers; EGM on Nov 12

Through another resolution, the shareholders are also seeking a settlement on the issue of a legal battle with some shareholders regarding board positions.

Dhanlaxmi's governance turmoil: A saga of management-shareholder conflicts

The differences between the two are being complicated by an unsolicited bid from a little-known Delhi-based business group

Top Headlines: Tax collections may exceed target, forecast cuts, & more

Business Standard brings you the top headlines at this hour

Dhanvarsha makes unsolicited offer of Rs 300 cr to buy Dhanlaxmi Bank

According to sources familiar with the development, Dhanvarsha has offered Rs 11.85 per share, totalling Rs 300 crore, to acquire the entire equity stake in the bank

Dhanlaxmi Bank's Rs 127-cr rights issue hits fresh roadblock at boardroom

Lender was aiming to raise Rs 127 crore for growth plans

Dhanlaxmi Bank posts Q1 net loss of Rs 26 cr on higher expenses, provisions

Total income during April-June quarter of 2022-23 was down at Rs 237 crore as against Rs 246 crore in the year-ago period. The interest income, however, was up at Rs 258 crore as against Rs 218 crore.

Sensex down 1457pts, Nifty gives up 15800 on global rout, ahead of CPI data

CLOSING BELL: The top laggards were Bajaj Finserv, IndusInd Bank, Bajaj Finance, Hindalco, Tech M, Tata Motors, ICICI Bank, Adani Ports, NTPC, and TCS

Stocks to watch: M&M, IDBI Bank, Dhanlaxmi Bank, Adani Green, RBL Bank

Stocks to watch today: Dhanlaxmi bank saw no outcome or resolution in their EGM meeting; Media stocks are expected to hog limelight ahead of day 2 of IPL's media rights auction.

Dhanlaxmi sees a subdued EGM; financial concerns, rights issue discussed

The EGM was called by a group of minority shareholders unhappy with the workings of the bank and its financials

Stormy Dhanlaxmi EGM on cards today under a cloud of allegations and exits

The Dhanlaxmi Bank EGM has been called by a group of eleven minority shareholders unhappy with the working of the bank, and its financials

Dhanlaxmi Bank planning to raise Rs 127 crore via rights issue this month

The bank's capital adequacy ratio fell below 13% in the March quarter and capital raised via the rights issue is expected to boost it by 50 bps

Dhanlaxmi Bank's Q4 net profit jumps over four-fold to Rs 23 crore

Private sector lender Dhanlaxmi Bank on Thursday reported over four-fold jump in its net profit at Rs 23.42 crore in quarter ended March 2022, on fall in bad loan ratio as well as interest income

RBI extends tenure of its additional director on board of Dhanlaxmi Bank

The Reserve Bank has extended the tenure of its additional director G Jagan Mohan on the board of Dhanlaxmi Bank by two years, as per a regulatory filing

Dhanlaxmi Bank Part-Time Chairman G Subramonia Iyer submits his resignation

His resignation is to be effective from December 31, 2021

Dhanlaxmi Bank Q2 net declines 74% at Rs 3.66 cr on soaring bad assets

Dhanlaxmi Bank on Friday reported a nearly 74 per cent plunge in its net profit to Rs 3.66 crore in quarter ended in September 2021 as provisions rose due to a spike in bad loans.

Dhanlaxmi Bank shareholders reject appointment of statutory auditor

Dhanlaxmi Bank on Thursday said its shareholders have rejected the appointment of statutory auditor P B Vijayaraghavan & Co. The bank had listed four agendas at its annual general meeting held on Wednesday (September 29), of which two were passed. The shareholders rejected the proposal of appointment of statutory auditors P B Vijayaraghavan & Co, Chartered Accountants, Chennai with 65.44 per cent votes cast against the ordinary resolution, Dhanlaxmi Bank said in a regulatory filing, disclosing the scrutiniser's report of the postal ballot. They also rejected a proposal for authorisation to the board of directors to appoint and fix remuneration of branch auditors, with 65.44 per cent votes against the resolution. "The resolutions 3 and 4 have not been passed by the shareholders of the bank," the filing said. Resolutions 1 and 2 were passed with requisite majority. These related to the adoption of the audited financial statements for fiscal ended March 2021 and re-appointment of

Dhanlaxmi Bank gross advances up over 4% by March; deposits rise over 7%

Private sector lender Dhanlaxmi Bank witnessed over 7 per cent year-on-year growth in its total deposits during the financial year ended March 2021, while advances rose over 4 per cent.