Dhanlaxmi Financial institution Q3 web plunges 83% to Rs 2 crore as different revenue declines

The Thrissur-based lender had reported a web revenue of Rs 11.81 crore in Q3 of FY21 and Rs 3.66 crore within the previous second quarter.

Dhanlaxmi Financial institution on Friday reported an 83% year-on-year (y-o-y) decline in its third quarter web revenue to Rs 2.03 crore largely because of a drop in different revenue.

The Thrissur-based lender had reported a web revenue of Rs 11.81 crore in Q3 of FY21 and Rs 3.66 crore within the previous second quarter.

Asset high quality has improved with Gross NPA as a share of gross advances reported at 7.55 % for the quarter beneath overview as in opposition to 8.67 % within the previous second quarter and 5.78% within the year-ago interval.

Internet NPA ratio is reported at 3.83 % in comparison with 4.92 % within the second quarter and 1.11 % within the third quarter of final fiscal 12 months.

Managing Director & CEO JK Shivan advised FE that regardless of a decline in income, the financial institution is continuing in the best course.

“Our working revenue has elevated quarter-on-quarter after so many quarters of decline. Now our working revenue will care for the working bills. The NIM has grown to 2.94%,NII has additionally elevated and credit-deposit ratio has elevated,” he stated.

Provisions and contingencies have elevated to Rs 26.29 crore, as in opposition to Rs 22.92 crore offered within the year-ago interval and Rs 22.60 crore offered within the previous quarter.

The entire revenue for Q3 of FY22 is seen decrease by 6.77% YoY to Rs 269.16 crore, whereas the financial institution’s curiosity revenue decreased to Rs 234.63 crore from Rs 237.36 crore in Q3FY21. Different revenue decreased to Rs 34.53 crore from Rs 51.35 crore within the comparable interval of final fiscal.

Provision protection ratio (together with technical write off) as of December 31, 2021, is 77.55 % and the capital adequacy ratio stands at 13.13 %.

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