Lakshmi Vilas Bank Q3 profit jumps 4 times to Rs 32.5 cr

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26 Aug, 2025 12:21

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Moneycontrol Bureau

Private sector lender Lakshmi Vilas Bank's profit surged over four-fold to Rs 32.5 crore for the quarter ended December 2014 compared to Rs 7.4 crore in the year-ago period. The growth in profit was largely led by higher other income and lower provisions despite higher tax outflow of Rs 9 crore (against nil in Q3FY14) while asset quality also improved significantly.

Operating profit jumped 37 percent to Rs 102.79 crore from Rs 75 crore during the same period.

Net interest income, the difference between interest earned and interest expended, climbed 9.7 percent year-on-year to Rs 137.51 crore and other income (non-interest income) grew by whopping 59 percent to Rs 73.36 crore in the quarter gone by.

Provisions and contingencies declined 9.5 percent on yearly basis (up 20 percent sequentially) to Rs 61.2 crore during October-December 2014.

The bank has reported strong improvement in asset quality with the gross non-performing assets (NPA) falling 220 basis points year-on-year (down 32 bps quarter-on-quarter) to 3.40 percent in the third quarter of current financial year 2014-15.

Net NPA also dropped by 1.96 basis points on yearly basis (down 41 bps sequentially) to 2.37 percent during the quarter. Capital adequacy ratio (as per Basel-III norms) stood at 12.47 percent in Q3FY15 against 13.20 percent in Q2FY15 and 10.46 percent in Q3FY14.

At 12:59 hours IST, the scrip of Lakshmi Vilas Bank was quoting at Rs 91.80, up 2.17 percent after hitting a 52-week high of Rs 94.55 during the day.