Reports in the Economic Times that the auditors Walker Chandiok & Co - the local audit arm of the management and audit consultancy Grant Thornton - have put a question mark on Dhanlaxmi Bank's performance numbers for the quarter ended June 2012, saw the stock losing 3% in trade today.
"It is believed that the auditors were not comfortable with the sudden spurt reported by the bank in its yield on advance for the June quarter. The bank's yield on advances - which simply put, is the ratio between total interest income on advances and average advance outstanding for the period - rose to 13.27% from 11.35% in the previous quarter," the Economic Times has reported.
The shares of the bank were traded 3% lower at Rs 48 on the Bombay Stock Exchange. Dhanlaxmi Bank had posted a net loss of Rs 11.81 crore in the quarter ended June 2012 as against profit of Rs 3.4 crore in a year ago period.
Dhanlaxmi Bank Ltd is a Kerala based bank, which provides a wide array of banking services. The bank has been in the rumours for being financially stressed. The employees union of the bank had earlier this year alleged fraud at the bank.
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google