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A surge in operating profit, recovery in non-performing assets and stopping further slippage in NPAs have helped Kerala-based Dhanlaxmi Bank notch up a net profit in the first quarter of the current fiscal.
The bank recorded a net profit of ₹7.97 crore in the first quarter of FY18 against ₹5.73 crore in the same period of the last fiscal. The growth in net profit was 39.09 per cent. The bank posted an operating profit of ₹26.93 crore (₹10.35 crore), an increase of 157.29 per cent, it said in a statement.
The CRAR as on June 30 was 12 per cent, which is well above the regulatory requirement, and against the 7.44 per cent recorded last year. Gross NPAs improved from ₹475.49 crore (7.02 per cent) to ₹354.13 crore (5.62 per cent). Other income improved 41.81 per cent year-on-year, from ₹19.71 crore in Q1 FY17 to ₹27.95 crore in Q1 FY18.
CASA improved to ₹3,345 crore from ₹2,846 crore.
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