Business · India Bureau
Dhanlaxmi Bank Q2 profit more than doubles to ₹48.55 crore
The Kerala-based private sector lender reported strong earnings growth in the July-September quarter, with net profit surging more than 100 per cent year-on-year. The bank also demonstrated improved asset quality metrics during the period.
LSN India ·
Dhanlaxmi Bank announced a robust set of second quarter results on Monday, with net profit jumping to ₹48.55 crore for the period ended September 30, 2024, compared to ₹23.20 crore in the same quarter of the previous fiscal year.
The Kerala-headquartered lender's interest income climbed 23 per cent to ₹471 crore during Q2 FY27, up from ₹384 crore in the corresponding quarter of FY26. The increase in lending income reflected the bank's expanding advances and improved credit deployment during the period.
Asset quality metrics showed marked improvement, with gross non-performing assets declining to 1.76 per cent of gross advances in the second quarter, substantially lower than the 3.10 per cent recorded in the year-ago period. The improvement underscores the bank's better credit management and portfolio quality.
The stock market appeared cautious about the results, with Dhanlaxmi Bank shares trading at ₹32.73 on the BSE, down 8.40 per cent from the previous session's close. The decline came despite the bank's strong earnings trajectory, suggesting investors may have been pricing in expectations ahead of the announcement.