InvestorQ : How do you see Dhanalaxmi Bank after its Jun-20 quarter results?
ishika Banerjee made post

How do you see Dhanalaxmi Bank after its Jun-20 quarter results?

Answer
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Niti Shenoi answered.
1 month ago


Dhanlaxmi Bank reported 69% fall in net profit at Rs.6.09 crore for the Jun-20 quarter. Total revenues for the Jun-20 quarter were up by 9% at Rs.278.62 crore. Interest income for the quarter was marginally down at Rs.236.65 crore largely on the back of a fall in income from investments as well as lower returns on balances with RBI due to lower reverse repo rates.

The bank's provisioning for bad loans and contingencies was up 4-fold at Rs.37.02 crore during the Jun-20 quarter. On asset quality, the bank's gross NPAs fell by 72 bps to 6.89%. Net NPAs also fell by 17 bps to 2.18%. The stock has been in low double digits for a long time and the markets were not really enthused by the results.