Lakshmi Vilas Bank Ltd Q2FY18
Standalone Results Q2FY18: (Rs. in crore)
|Net Profit (adjusted)||10.5|||
Lakshmi Vilas Bank reported its Q2FY18 results today. The NII for the quarter rose by 24.6% yoy to Rs.232 crore in Q2FY18 vs Rs.186.6 crore in Q2FY17. This was largely due to rise in interest income by 11% yoy to Rs.778 crore in Q2FY18 vs Rs.698 crore in previous year corresponding quarter. Also, NII for the quarter stood at 2.83%
Asset quality also deteriorated further as GNPA’s for the quarter rose 134% yoy to Rs.1277 crore vs Rs.546 crore in Q2FY17. In percentage terms to total advance GNPA’s further advanced by 280 bps to 5.5% vs 2.7% in Q2FY17. Also, NNPA’s for the quarter increased by 132 bps to 4.33% in Q2FY18 vs 1.87% in Q2FY17. Watch list for the quarter stood at Rs.1700 crore as against Rs.2300 crore in previous quarter.
Provisions for the quarter jumped 199% yoy to Rs.187 crore in Q2FY18 vs Rs.62.5 crore in previous year corresponding quarter. This led to substantial slump in bottom-line by 83% yoy to Rs.10.5 crore in Q2FY18 vs Rs.64.8 crore in Q2FY17.
Advances and Deposits for the quarter increased by 14% & 9% yoy respectively to Rs.22926 crore & Rs.20069 crore respectively for Q2FY18. CASA share improved to 20.97% vs 17.3% yoy.
Lakshmi Vilas Bank Ltd is currently trading at Rs. 140.95, down by 5.8 points or 3.95% from its previous closing of Rs. 146.75 on the BSE.
The scrip opened at Rs. 147.40 and has touched a high and low of Rs. 151.40 and Rs. 137.50 respectively. So far 24,19,945(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
BSE 146.25 [1.95] ([1.32]%)
NSE 146.45 [2.30] ([1.55]%)
***Note: This is a NSE Chart
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