The Hindu Business Line : Dhanalakshmi Bank Q3 net zooms 200%

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Kochi Jan. 30 The net profit of Dhanalakshmi Bank has grown by close to 200 per cent to Rs 3.11 crore (Rs 1.04 crore) for the third quarter of the current fiscal.

Addressing a press conference, Mr P.S. Prasad, Managing Director and CEO, said the bank would be entering the capital market shortly to shore up its capital base. The bank has been in talks with six merchant bankers, exploring various avenues for raising its capital. "We will be coming out with some concrete proposals in 45 days time," he said.

The bank is thinking of placing some of its equity as strategic investments with private equity funds, shedding some of it to qualified institutional investors, going in for a follow-on public issue or a combination of any of these, Mr Prasad said.

With interest income growing to Rs 62.31 crore, the total income of the bank grew to Rs 70.95 crore. The interest outgo was Rs 38.84 crore and the total expenditure was Rs 61.52 crore. The bank's shares fell on Monday by Rs 2.20 to Rs 67.75 at the close of trading on the BSE.

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