Shares of Dhanlaxmi Bank on Friday lost some early gains and ended the session over 1 per cent up, even as the lender reported nearly twofold rise in net profit for the September quarter.
Shares of the private sector lender rose 1.15 per cent to Rs 15.90 apiece on the BSE. The stock saw an intra-day rise of 4.96 per cent at Rs 16.50
Similarly, on the National Stock Exchange (NSE), the scrip settled at Rs 15.90, up 1.27 per cent. The stock was 5.09 per cent up at Rs 16.50 during the day.
Dhanlaxmi Bank on Thursday reported nearly twofold rise in its net profit at Rs 22.07 crore for the second quarter ended September 30, as bad loan ratio came down.
The bank had posted a net profit of Rs 12.15 crore in the corresponding July-September quarter of the previous financial year.
The lender made provisions for bad loans and contingencies of Rs 25.38 crore for the September quarter, while there was a de-provisioning of Rs 18.19 crore a year ago.
The asset quality witnessed improvement as the gross non-performing assets (NPAs) fell to 7.06 per cent (Rs 476.08 crore) of the gross advances as on September 30, from 7.81 per cent (Rs 488.74 crore) a year ago.
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The net NPAs were 1.65 per cent (Rs 105.34 crore), down from 2.92 per cent (Rs 173.54 crore).
Provision coverage ratio as on September 30 stood at 89.16 per cent, the bank said.
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