Lakshmi Vilas Bank Q2 Net Jumps 45% to Rs 64.85 Crore | CORPORATE ETHOS

Lakshmi Vilas Bank Q2 Net Jumps 45% to Rs 64.85 Crore

By: | October 18, 2016

Oct 18: Private sector lender Lakshmi Vilas Bank on Monday posted a year-over-year growth of 44.66% in its net profit for the quarter ended September 30, 2016. The profit rose to Rs 64.85 crore from Rs 44.83 crore it posted in the same quarter over a year ago. For the first quarter of the ongoing fiscal, the profit was Rs 60.69 crore.

The Chennai-headquartered bank’s operating profit also increased 69.61% to Rs 158.42 crore compared to Rs 93.40 crore of the same period last year. Its total income grew by 18.97% from Rs 697.88 crore in Q2 of the last fiscal to Rs 830.30 crore in the just ended quarter. Other income (non-interest income) during the quarter jumped 107 percent to Rs 131.9 crore.

The Gross and Net NPA of the bank stood at Rs 2.70% and 1.87% as on 30th September, 2016, said the bank in a filing. The bank’s stock was trading at Rs 152.15, up 0.63%, on BSE at 10.46 am today. The bank has an equity capital of Rs 179.46 crore and a market capitalization of Rs 2,730.51 crore.