Dhanlaxmi Bank Q4 Update: Advances grow nearly 25% but stock falls in-line with market

Shares of Dhanlaxmi Bank Ltd. declined on Thursday, April 2, after the company reported its provisional update for the fourth quarter.

The lender's total business increased 19.68% to ₹33,733 crore from the previous year's ₹28,219 crore. It also increased sequentially from ₹31,929 crore.

Its total deposits were up 16.42% at ₹18,643 crore from ₹16,013 crore in the fourth quarter of the previous fiscal. On a sequential basis too it increased from ₹17,839 crore.

Dhanlaxmi Bank's gross advances were up 23.96% at ₹15,130 crore from the previous year's ₹12,206 crore.

The lender's CASA deposits were up 15.77% at ₹5,380 crore from ₹4,647 crore in the previous year. It was also higher than the previous quarter's ₹5,018 crore.

Dhanlaxmi Bank in its exchange filing stated the data was provisional and is subject to review by the statutory auditors of the bank.

On another note, Tamilnad Mercantile Bank, Karnataka Bank, South Indian Bank and Indian Bank are the other lenders that reported their provisional updates.Click here for more details.

Shares of Dhanlaxmi Bank declined 3.2% to hit an intraday low of ₹21.79 apiece on Thursday. The stock was down 2.3% at ₹21.99 apiece around 10.05 am. It has declined 12% this year, so far.

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