Private sector lender Dhanlaxmi Bank on Tuesday reported a profit of Rs9 crore for the March quarter of the last fiscal as it managed to rein in non-performing assets (NPAs).
In comparison, the bank had registered a loss of Rs131.60 crore for the fourth quarter of the previous fiscal, 2015-16. However, the total income during the January-March quarter of 2016-17 declined to Rs296.34 crore, as against Rs323.98 crore in the same period a year ago, Dhanlaxmi Bank said in a regulatory filing.
The bank’s gross bad loans or NPAs during the quarter under review declined to 4.78%, from 6.36% in the year-ago period. Net NPAs at 2.58% also showed a slight decline, compared to 2.78% a year ago. For the entire financial year 2016-17, the bank posted a profit of Rs12.38 crore, as against a loss of Rs209.45 crore in the previous fiscal.
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