 "Lakshmi Vilas Bank hits 52-week high as bad loans decline in Q4")
Shares of Lakshmi Vilas Bank has moved higher by 6% to Rs 109 on the NSE after reporting a strong 91% year on year (YoY) jump in net profit at Rs 40 crore for the fourth quarter ended March 2015 (Q4) due to one-time gain of Rs 11 crore on account of changed in method of depreciation, while bad loans decreased. The private sector lender had profit of Rs 21 crore in a year ago quarter.
Net interest income (interest earned minus interest expended) grew 11% at Rs 139 crore on YoY basis.
For the quarter, both gross non-performing assets (NPA) and net NPA reduced substantially. While gross NPA declined YoY to 2.75% from 4.19%, net NPA to 1.85% from 3.44%. Sequentially, too, these ratios increased 52-62 basis points.
For the year, gross NPA fell to 2.75% of total assets from 4.19% a year ago, while net NPA declined to 1.85% from 3.44%.
The stock opened at Rs 103 and touched a 52-week high of Rs 111 on the NSE. A combined 3.04 million shares changed hands on the counter till 1351 hours on the NSE and BSE.
Net interest income (interest earned minus interest expended) grew 11% at Rs 139 crore on YoY basis.
For the quarter, both gross non-performing assets (NPA) and net NPA reduced substantially. While gross NPA declined YoY to 2.75% from 4.19%, net NPA to 1.85% from 3.44%. Sequentially, too, these ratios increased 52-62 basis points.
For the year, gross NPA fell to 2.75% of total assets from 4.19% a year ago, while net NPA declined to 1.85% from 3.44%.
The stock opened at Rs 103 and touched a 52-week high of Rs 111 on the NSE. A combined 3.04 million shares changed hands on the counter till 1351 hours on the NSE and BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%