New Delhi: Dhanalakshmi Bank said on Monday that its net profit during the March quarter of FY 2019-20 declined by 90.5 per cent to Rs 2.60 crore. The bank said that its profit declined due to bad loans and more provisions for contingencies.
The bank had achieved a net profit of Rs 27.61 crore during the January-March quarter of the previous financial year. The bank told the stock market that its earnings during the quarter under review rose to Rs 280.98 crore from Rs 268.97 crore as compared to the same period a year earlier.
Dhanalakshmi Bank’s net profit increased from Rs 11.67 crore to Rs 65.78 crore during FY 2019-20. During this period, his income increased from Rs 1,024.22 crore to Rs 1,100.44 crore.
