The company has said today in a stock exchange filing that “We hereby inform that a meeting of the Board of Directors of the Bank scheduled on Monday, December 05, 2022 would inter-alia consider / approve raising of funds by the Bank by way of issuance of Non-Convertible Debentures (NCDs) in the form of Basel III compliant Tier 2 Bonds aggregating to Rs.200 Crores in one or more tranches over a period of time, subject to approval of Regulators! Shareholders, as may be required."
In comparison to the same quarter last year, when Dhanlaxmi Bank recorded a net profit of Rs. 3.66 crores, the quarter ended September 2022 saw a YoY rise of 334% to Rs. 15.89 crore. In Q2FY23, the firm reported an operating profit of Rs.35.35 crore, up from Rs.26.06 crore in Q2FY22. In Q2FY23, total business increased by 15.71% YoY to Rs. 21857 Crore from Rs. 18889 Crore reported in the same period a year prior. Deposits increased 6.96% YoY to Rs. 12748 Crore as of September 30, 2022 from Rs. 11918 Crore as of September 30, 2021, while the bank's CASA share climbed 8.21% YoY and represented 34% of total deposits in Q2FY23. From Rs. 6971 Crore reported in Q2FY22 to Rs. 9109 Crore in Q2FY23, Gross Advance climbed by 30.67% YoY, while the Credit Deposit Ratio grew from 58% to 71%. Gross non-performing assets (NPA) dropped by 263 basis points from 8.67% to 6.04% in Q2FY23, and net non-performing assets (NPA) decreased by 260 basis points from 4.92% to 2.32%. Net interest income accelerated by 28.44% to Rs. 116.44 crore as of September 30, 2022, from Rs. 90.66 crore posted in Q2FY22.
The shares of Dhanlaxmi Bank closed today at ₹14.90 apiece, down by 1.32% from the previous close of ₹15.10. In trade today the stock recorded a total volume of 1,394,870 shares compared to the 20-Day average volume of 3,892,275 shares. On a YTD basis, the stock has fallen 1.00% so far in 2022
