Dhanalakshmi Bank’s net profit up 36% to Rs 4.45 crore in Q3
By The gross profit rose cl | 21 Jan 2003
Kochi: Dhanalakshmi Bank’s net profit for the third quarter has grown by over 36 per cent to touch Rs 4.45 crore (Rs 3.27 crore) for the quarter ended December 2002. The gross profit rose close to 75 per cent to Rs 20.46 crore (Rs 11.71 crore) in the same period. The bank has provided adequately for contingencies and other write-offs at Rs 10.56 crore. The provision for taxes was at Rs 5.45 crore.
The bank had registered a total income of Rs 66.79 crore as against a total expenditure of Rs 46.33 crore. The above financial results were taken on record by the board of directors at its meeting held on 18 January 2003.
The bank said the net profit for the first nine months of the year was at Rs 11.28 crore (Rs 8.41 crore). The interest and other income have also shown considerable growth during the period to Rs 141.83 crore and Rs 50.70 crore, respectively. The gross profit for the nine-month period has grown by 66 per cent to Rs 50.30 crore (Rs 30.18 crore).