Dhanlaxmi Bank Q3 Profit Jumps 20% Despite Year-Long Stock Crash

• Dhanlaxmi Bank reported a 20% year-on-year increase in net profit to Rs 24 crore for the third quarter, up from Rs 20 crore last year.
• Net Interest Income (NII) also grew by 20% to Rs 154 crore, indicating strong core earnings.
• Asset quality improved significantly, with Gross Non-Performing Assets (NPAs) decreasing to 2.36% from 3.10% in the previous quarter.
• Total deposits rose by 18.39% to Rs 17,839 crore, and total business increased by 20.76% to Rs 31,933 crore.
• Gross advances surged by 23.90% to Rs 14,094 crore, driven by a 50.89% increase in the gold loan book and a 27.72% rise in the MSME loan portfolio.

Why It Matters: Dhanlaxmi Bank defied a year-long stock decline with a strong Q3, showing improved profit, asset quality, and business growth.