Shares of Dhanlaxmi Bank Limited locked at a 5% lower circuit on 5 February after the bank reported a disappointing quarterly report for October-December.

The bank reported an 86% year-on-year decline in its net profit to Rs 3 crore for the quarter under review from Rs 21.7 crore reported in the same quarter last year.

The bank’s total income for the quarter stood at Rs 343 crore, marking a 9.9% YoY increase from Rs 312 crore reported in the same quarter of the previous fiscal year.

The net interest income stood at Rs 307 crore for the quarter under review, marking an 11.38% YoY increase from Rs 276 crore reported in the same quarter of the previous fiscal year.

The bank’s Gross Non-Performing Assets declined by 4.81% during the quarter from 5.83% reported in Q3FY24. The Net Non-Performing Assets for the quarter under review stood at 1.27% from 1.82% recorded during the same quarter of fiscal year 2023.

At 11:30 am, the shares of Dhanlaxmi Bank were locked 5% lower at Rs 48.70 on NSE.