Dhanlaxmi Bank defers earnings announcement till May 23
Private sector Dhanlaxmi Bank today said its board has decided to defer the announcement of financial results until May 23 in view of 'better presentation on conservative basis'.
The board was scheduled to consider the quarterly and annul earnings results for fiscal ended March 2018 in its meeting today.
The board of directors its meeting today "considered other items on the agenda and decided to defer the adoption of accounts to Wednesday, May 23, 2018, in order to rework by including certain items, which are eligible to be deferred as per regulatory dispensation, in view of better presentation on conservative basis," the bank said in a regulatory filing.
For the quarter ended December of 2017-18, the bank had reported widening of its net losses to Rs 21.74 crore from Rs 8.18 crore in the corresponding December quarter of 2016-17. While in the September quarter, 2017-18 there was a meagre profit of Rs 6.06 crore.
Besides, in full year 2016-17, there was profit of only Rs 12.38 crore.
In preceding two financial years, the south based lender had registered a net loss of Rs 209.45 crore in 2015-16 and that in 2014-15 there was a net loss of Rs 241.47 crore.
As on December 31, 2017, the gross non-performing assets (NPAs) of the bank had reached 6.96 per cent of the gross advances by that time, less from 7.59 per cent by end-December 2016.
Shares of Dhanlaxmi Bank closed 1.47 per cent down at Rs 20.10 on BSE.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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