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Dhanlaxmi Bank reported a strong financial performance for the first quarter of FY27, with its net profit doubling year-on-year to INR 24.91 crore. The bank also recorded healthy growth in total income and interest income during the quarter. Its asset quality improved further, with the gross non-performing asset (NPA) ratio declining to 1.82 per cent from 3.22 per cent a year earlier. Despite the better quarterly results, the bank's shares ended lower on the BSE, reflecting a decline of just over 5 per cent during the trading session.
Dhanlaxmi Bank reported a two-fold increase in its net profit for the first quarter of FY27, posting a profit of INR 24.91 crore compared with INR 12.18 crore in the corresponding quarter of the previous financial year.
The Kerala-based private sector lender also registered growth in its overall income during the quarter. Total income increased to INR 484.25 crore from INR 407 crore recorded in the same period last year. Interest income also witnessed a healthy rise, reaching INR 449 crore compared with INR 368 crore in the year-ago quarter.
The bank continued to strengthen its asset quality during the quarter. Gross non-performing assets (NPAs), as a percentage of gross advances, improved to 1.82 per cent, down from 3.22 per cent in the corresponding quarter of the previous fiscal. The decline in gross NPAs indicates continued improvement in the bank's loan portfolio and recovery efforts.
Dhanlaxmi Bank has been focusing on improving its financial performance through better credit quality, disciplined lending and recovery measures. The latest quarterly results reflect continued progress in these areas, supported by higher interest earnings and improved operational performance.
Despite the improvement in earnings and asset quality, the bank's stock came under selling pressure during the trading session. Shares of Dhanlaxmi Bank closed 5.01 per cent lower at INR 32.44 apiece on the BSE.
Source PTI
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