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Kerala-based Dhanlaxmi Bank recorded a net profit of ₹14.03 crore for the first half of this fiscal against ₹11.75 crore in the same period last year, registering a growth of 19.40 per cent.
The standalone net profit for Q2 was almost flat at ₹6.05 crore (₹6.02 crore in the corresponding quarter in the previous fiscal).
The operating profit improved to ₹56.56 crore from ₹44.56 crore in H1 FY17. The increase recorded is 26.93 per cent.
The deposit under current and savings accounts increased to ₹3,367 crore from ₹2,987 crore recorded a year ago, a growth of 12.72 per cent. The ratio of CASA deposits increased to 30.61 per cent from 26.65 per cent.
In H1 FY18, the CRAR improved to 11.62 per cent (9.03 per cent in H1 FY17). The total expenditure fell to ₹512.99 crore from ₹568.96 crore in H1 FY17. Net interest margin (NIM) increased from 2.81 per cent to 23.93 per cent within one year.
The cost of funds came down to 6.09 per cent (6.78 per cent).The cost-to-income ratio came down to 75.13 per cent as on September 30 from 80.64 per cent as on end-September last year.
The gross NPA as on September 30 was ₹389.16 crore, a decrease of ₹91.39 crore from the ₹480.55 crore recorded in the corresponding period of the previous year.
The gross NPA ratio dropped to 6.11 per cent (6.86 per cent).
The thrust areas for the current year are retail loans, NPA recovery, low-cost deposits and other income.
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