Lakshmi Vilas Bank tanks over 10% post Q4 results on profit booking
The stock dipped 10.7% to Rs 175 on BSE in early morning trade on profit booking.
 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters")
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Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters
Shares of Lakshmi Vilas Bank dipped 10.7% to Rs 175 on BSE in early morning trade on profit booking after the company reported 6.29% year on year (Y-o-Y) rise in net profit to Rs 52.16 crore for the quarter ended March 31, 2017 (Q4FY17).
Net interest income (interest earned minus interest expended) was up 31.8% to Rs 228 crore as against Rs 173 crore a year ago.
The bank’s assets quality improved sequentially with gross non-performing assets (NPAs) as percentage of gross advances stood at 2.67% in Q4 against 2.78% in Q3. Net NPAs also improved to 1.76% from 1.82% in previous quarter. Gross NPAs and net NPAs stood at 1.97% and 1.18%, respectively at the end of March 2016 quarter.
The stock of private sector lender hit a record high of Rs 203 on BSE on Wednesday, April 26, 2017 in intra-day trade. Thus far in the calendar year 2017, it rallied 38% as compared to 13% rise in the S&P BSE Sensex till yesterday.
At 09:44 am; the stock was trading 3.8% lower at Rs 188.50, recovered nearly 8% from its early morning low. A combined 973,254 shares changed hands on the counter on BSE and NSE so far.
Net interest income (interest earned minus interest expended) was up 31.8% to Rs 228 crore as against Rs 173 crore a year ago.
The bank’s assets quality improved sequentially with gross non-performing assets (NPAs) as percentage of gross advances stood at 2.67% in Q4 against 2.78% in Q3. Net NPAs also improved to 1.76% from 1.82% in previous quarter. Gross NPAs and net NPAs stood at 1.97% and 1.18%, respectively at the end of March 2016 quarter.
The stock of private sector lender hit a record high of Rs 203 on BSE on Wednesday, April 26, 2017 in intra-day trade. Thus far in the calendar year 2017, it rallied 38% as compared to 13% rise in the S&P BSE Sensex till yesterday.
At 09:44 am; the stock was trading 3.8% lower at Rs 188.50, recovered nearly 8% from its early morning low. A combined 973,254 shares changed hands on the counter on BSE and NSE so far.