Old private sector lender Dhanlaxmi Bank today reported a net profit of Rs 17.10 crore for the third quarter ended December 31, 2014 despite a rise in bad loans.
The bank had a net loss of Rs 119.37 crore in the same quarter FY14.
The bank's asset quality worsened as a percentage of total advances with gross NPAs worsening to 7.37 per cent from 7.05 per cent in the same quarter a year ago.
However, the net NPAs came down marginally to 4.52 per cent from 4.64 per cent at the end of December 2013, Dhanlaxmi Bank said in a filing to the BSE.
Gross NPA in absolute terms, increased to Rs 575 crore as compared to Rs 546 crore at the end of December 2013.
The total income rose to Rs 345 crore during the October-December period from Rs 328 crore in the same quarter last fiscal.
During the first three quarters of 2014-15, Dhanlaxmi Bank net profit rose at Rs 25 crore, compared to loss of Rs 118 crore in the year-ago period.
Shares of the bank closed at Rs 36.05 per unit, up 8.26 per cent on the BSE.