Dhanlaxmi Bank Reports Rs 26 Crore Net Profit for Q2 FY25

Dhanlaxmi Bank Reports Rs 26 Crore Net Profit for Q2 FY25

Dhanlaxmi Bank has reported a net profit of Rs 25.81 crore for the second quarter of FY25, marking an increase from Rs 23.16 crore during the same period last year. The Kerala-based bank's total income surged by 16.25% year-on-year, reaching Rs 380.64 crore in Q2FY25. Interest income grew by 8% to Rs 328.83 crore, while other income saw a significant rise of 120.19%, totaling Rs 51.81 crore.

As of the September 2024 quarter, Dhanlaxmi Bank’s total business stood at Rs 25,650 crore, with total deposits at Rs 14,631 crore and gross advances at Rs 11,018 crore. Low-cost CASA deposits accounted for 31.66% of total deposits. The retail advance portfolio, including gold loans, grew by 21.52% to Rs 5,907 crore. The bank’s credit-to-deposit ratio was 75.31%.

Dhanlaxmi Bank also reported a marked improvement in asset quality, with gross non-performing assets (NPA) decreasing to 3.82% from 5.36% in the same period last year, while net NPA reduced to 1.12% from 1.29%.