Lakshmi Vilas Bank net profit rises by 45%; provisions up 86%
Provisions and contingencies was at Rs 62.57 crore, rising by 86.38% yoy and 78% qoq. Gross Non-performing Asset (GNPA) stood at 2.70%, expanding by 81 basis points yoy and 56 basis points qoq.
Lakshmi Vilas Bank reported standalone net profit of Rs 64.84 crore for the second quarter September 30, 2016, registering growth of 44.63% year-on-year (yoy) and 6.85% quarter-on-quarter (qoq).
Provisions and contingencies was at Rs 62.57 crore, rising by 86.38% yoy and 78% qoq. Gross Non-performing Asset (GNPA) stood at 2.70%, expanding by 81 basis points yoy and 56 basis points qoq.
The bank’s net interest income was at Rs 186.67 crore, increasing by 16.44% yoy and 5.13% qoq.
Total income from operations stood at Rs 830.29 crore, recording growth of 18.97% yoy and 7.15% qoq.
Total advances for this quarter stood at Rs 20,069.16 crore, up by 15.32% from Rs 17,402.21 crore a year ago same period.
Shares of Lakshmi Vilas Bank closed at Rs 151.20 on BSE, down by 0.36%.
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