Lakshmi Vilas Bank Q2 profit rises 45%, asset quality weakens

Lakshmi Vilas Bank's profit in July-September quarter grew by 44.6 percent to Rs 64.85 crore, driven by other income and operating profit despite higher provisions.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » Earnings » Results

Oct 18, 2016, 07.45 AM | Source: Moneycontrol.com

Lakshmi Vilas Bank Q2 profit rises 45%, asset quality weakens

Lakshmi Vilas Bank's profit in July-September quarter grew by 44.6 percent to Rs 64.85 crore, driven by other income and operating profit despite higher provisions.

Like this story, share it with millions of investors on M3

Lakshmi Vilas Bank Q2 profit rises 45%, asset quality weakens

Lakshmi Vilas Bank's profit in July-September quarter grew by 44.6 percent to Rs 64.85 crore, driven by other income and operating profit despite higher provisions.

Post Your Comments

Share Cancel

Lakshmi Vilas Bank Q2 profit rises 45%, asset quality weakens
Moneycontrol Bureau

Private sector lender Lakshmi Vilas Bank 's profit in July-September quarter grew by 44.6 percent to Rs 64.85 crore, driven by other income and operating profit despite higher provisions.

Net interest income, the difference between interest earned and interest expended, increased 16.4 percent to Rs 186.6 crore in same period.

Other income (non-interest income) during the quarter jumped 107 percent to Rs 131.9 crore and operating profit surged 70 percent to Rs 158.4 crore on yearly basis.

Asset quality weakened further in the quarter ended September 2016 as gross non-performing assets (NPA) as a percentage of gross advances climbed to 2.7 percent from 2.14 percent and net NPA rose 1.87 percent to 1.3 percent on sequential basis.

In absolute terms, gross NPA increased 26.4 percent to Rs 546.1 crore and net NPA jumped 44.5 percent to Rs 376 crore compared to preceding period.

Provisions for bad loans shot up 78 percent quarter-on-quarter and 86.4 percent year-on-year to Rs 62.57 crore during July-September quarter.

The stock closed at Rs 151.20, down 0.36 percent amid high volumes on the BSE.

Buy, Hold, Sell ? Hear it first on M3
Lakshmi Vilas Bank Q2 profit rises 45%, asset quality weakens

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login