Lakshmi Vilas Bank Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|Net Profit (adjusted)||65||44.4|
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.
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 147.00 [1.65] ([1.11]%)
NSE 148.20 [0.85] ([0.57]%)
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