Private sector Dhanlaxmi Bank has clocked a 11.8% growth in net profit in FY 11 at Rs 26.1 crore as against Rs 23.3 crore in the year-ago period.
Total income in FY 11 rose to Rs 1,05,319 crore as against Rs 62,556 crore in the year-ago period, the bank said in a release here today.
The south-based lender's total asset-book increased by 76.4% to Rs 14,268 crore as on March 31, 2011 from Rs 8,087 crore as on March 31, 2010.
"FY 11 was a year for consolidation for us. On all parameters, including important ones such as business growth, net interest margin and NPA control, it was a good year for us," Dhanlaxmi Bank CFO Bipin Kabra told PTI.
Net interest margin for the year was around 2.7% which is "satisfactory", he said.
On the outlook for FY12, Kabra said it would be in line with expectations. "We will continue to grow," he said, without, revealing any figures.
Asked if the bank is planning to raise funds soon, Kabra replied in the affirmative but without giving details.
However, it is understood the bank is eyeing the GDR route to raise around Rs 500-600 crore.
In Q4 FY 11, the bank's net profit grew around 100% to Rs 11.2 crore from Rs 5.6 crore in the year-ago period.
Total business grew by a robust 78.4% to Rs 21,595 crore from Rs 12,105 crore for the quarter ended March 31, 2010.
The bank's loan-book witnessed a sharp growth largely due to a greater thrust on the retail segment and diversification across regions, the release said.
Total advances and total deposits continued to rise during the quarter, registering a year-on-year growth of 81.1% and 76.5%, respectively.
"Our focused approach to improve productivity across all business verticals has resulted in significant increase in profits...We are confident to deliver long-term growth for our customers and shareholders," Kabra said.
The bank's total income increased from Rs 182.4 crore in Q4 FY 10 to Rs 342.2 crore, recording a growth of 87.6%. Non-interest income rose from Rs 31.9 crore to Rs 46.1 crore in Q4 FY 11, an increase of 44.3% as a result of a focused thrust on fee-based business.
"On the NPA front, we achieved much success," Kabra said.
The gross NPA ratio declined from 1.54% as on March 31, 2010 to 0.74% as on March 31, 2011. NPAs worth Rs 10.41 crore were recovered during the year, he said.
The private lender's total capital adequacy ratio (CAR) as at March 31, 2011 (computed as per Basel II guidelines) remained strong at 11.8%, the CFO added.