Dhanalaxmi back in red: Q3 loss at Rs22 crore

KOCHI: Dhanalaxmi Bank, another bank from Trichur – the ‘banking capital’ of Kerala, has once again plunged into loss as the third quarter ending December 31, 2017 closed with a loss of Rs21.67 crore against a net profit of Rs6.06 crore the bank posted for the previous quarter.

The nine-month period ending December 31 also closed with a much smaller loss of Rs7.71 crore. The huge provisions during the quarter under discussion at Rs48.41 crore have in fact, pushed the bank into red this time.

While the total income for the quarter was to the tune of Rs270.11 crore compared with Rs282.30 crore for the previous quarter, the bank made an operating profit for the quarter of Rs26.67 crore against Rs29.92 crore.

Dhanalaxmi, the smallest listed bank from Kerala, had an asset base of Rs12,412 crore as on December, 31, 2017. While the gross NPA stood at 6.90 per cent, the net NPA was at 4.08 per cent as on December 31, 2017. The bank is said to be getting a new team at the top.

 

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