Dhanlaxmi Bank lost 5.69% to Rs 32.35 at 9:55 IST on BSE after the bank reported a net loss of Rs 119.37 crore in Q3 December 2013 as against net profit of Rs 4.39 crore in Q3 December 2012.
The Q3 result was announced after market hours on Monday, 10 February 2014.
Meanwhile, the S&P BSE Sensex was up 48.24 points or 0.24% at 20,382.51.
On BSE, so far 74,000 shares were traded in the counter as against average daily volume of 27,000 shares in the past two weeks.
The stock hit a high of Rs 33 and a low of Rs 31.80 so far during the day.
Dhanlaxmi Bank's total income declined 7% to Rs 327.52 crore in Q3 December 2013 over Q3 December 2012.
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Dhanlaxmi Bank's provisions and contingencies galloped 1050.97% to Rs 111.76 crore in Q3 December 2013 over Q3 December 2012.
The bank's ratio of gross non-performing assets (NPAs) to gross advances spurted to 7.05% as on 31 December 2013, from 5.31% as on 30 September 2013 and 4.19% as on 31 December 2012. The ratio of net NPAs to net advances increased to 4.64% as on 31 December 2013, from 3.69% as on 30 September 2013 and 2.93% as on 31 December 2012.
Dhanlaxmi Bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 9.78% as on 31 December 2013 as against 10.46% as on 30 September 2013.
In terms of RBI circular dated 23 August 2013 on Investment portfolio of banks -Classification, Valuation and Provisioning, the bank has opted to amortise the depreciation on the Available for Sale (AFS) and Held for Trading (HFT) portfolios on each of the valuation dates in the current financial year i.e. 2013-14 in equal installments. Accordingly out of the total depreciation of Rs 81.01 crore as on 31 December 2013, the bank has recognized Rs 38.55 crore in the profit and loss account of the current quarter, Dhanlaxmi Bank said.
Kerala-based Dhanlaxmi Bank provides a suite of banking products and services to its customers across retail banking, microfinance and agricultural lending and small and medium enterprises group.
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