Lakshmi Vilas Bank Ltd's Q2FY17 standalone net profit rises 44.44% yoy to Rs.65 crore

India Infoline Research Team | October 17, 2016 15:36 IST

Lakshmi Vilas Bank Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
NII 186 16.3
NPA (%) 2.7 81
Provisions 62 87.9
Net Profit (adjusted) 65 44.4
***NPA change is bps

Lakshmi Vilas Bank posted a 45% rise in 2QFY17 net profit; Higher net NPA at 1.87% vs. 1.01 (yoy).

The bank earned interest of Rs 6,983 Cr growing 1.8% yoy led by loan growth. Other income grew 2 folds yoy to Rs 131 Cr vs. 63 Cr in 2QFY16.

Gross NPA stood at 2.7% vs 1.89% (yoy). Asset quality thereby worsened 81 bps yoy. Provisions grew ~88% in 2QFY17 to Rs 62 Cr.

PAT grew ~45% yoy to Rs 65 Cr supported by Interest on advances and growth in other income.

The board approved a QIP of Equity shares at Rs 10 each of the bank. The board also plans to further raise Tier 1 capital by way of Equity issue.

Technical View:

Lakshmi Vilas Bank Ltd ended at Rs. 151.9, up by 0.15 points or 0.1% from its previous closing of Rs. 151.75 on the BSE.
The scrip opened at Rs. 163 and touched a high and low of Rs. 163 and Rs. 150 respectively. A total of 747720(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.

BSE 152.70 [1.05] ([0.68]%)
NSE 152.75 [0.60] ([0.39]%)

***Note: This is a NSE Chart



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