Dhanlaxmi Bank rose 2.29% to Rs 26.75 at 10:14 IST on BSE after the bank reported a net profit of Rs 3.58 crore in Q1 June 2013 compared with a net loss of Rs 11.81 crore in Q1 June 2012.
The bank announced the results after market hours on Monday, 12 August 2013.
Meanwhile, the BSE Sensex was up 88.39 points, or 0.47%, to 19,035.37.
On BSE, 56,000 shares were traded in the counter compared with average volume of 1.26 lakh shares in the past one quarter.
The stock hit a high of Rs 27.45 and a low of Rs 26.30 so far during the day. The stock hit a 52-week low of Rs 24.20 on 6 August 2013. The stock hit a 52-week high of Rs 73.30 on 11 December 2012.
The stock had underperformed the market over the past one month till 12 August 2013, sliding 23.20% compared with the Sensex's 5.07% decline. The scrip had also underperformed the market in past one quarter, falling 44.18% as against Sensex's 5.84% fall.
The small-cap private sector bank has an equity capital of Rs 106.06 crore. Face value per share is Rs 10.
Dhanlaxmi Bank's operating income fell 7.3% to Rs 338.32 crore in Q1 June 2013 over Q1 June 2012.
The bank's ratio of net non-performing assets to net advances stood at 4.10% as on 30 June 2013, compared with 3.36% as on 31 March 2013 and 0.72% as on 30 June 2012.
The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 5.78% as on 30 June 2013, compared with 4.82% as on 31 March 2013 and 1.39% as on 30 June 2012.
Provisions and contingencies surged 152.3% to Rs 7.19 crore in Q1 June 2013 over Q1 June 2012.
The bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 11.73% as on 30 June 2013, compared with 11.06% as on 31 March 2013 and 10.36% as on 30 June 2012.
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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