Monday, March 03, 2025 | 10:58 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Lakshmi Vilas Bank Q3 net down 76% at Rs 7.4 cr

Bad loans drag, total income up 12% to Rs 557 cr

Press Trust of India New Delhi
Private lender Lakshmi Vilas Bank today reported a 76 per cent decline in net profit at Rs 7.42 crore for the third quarter ended December 2013 on higher provisioning for bad loans.
    
The bank's net profit in the corresponding Oct-Dec quarter of FY13 stood at Rs 31.31 crore.
    
Total income in the three months to December 2013 rose to Rs 557.25 crore over Rs 498.54 crore in the same quarter of previous fiscal, it said in a filing to the BSE.
    
Its provisioning for bad loans increased to Rs 67.67 crore during the quarter under review, from Rs 20.33 crore in the year ago period.
 
    
Gross NPAs (non-performing assets) or bad loans for the bank increased to 5.6 per cent (Rs 722.20 crore) in the third quarter over 4.41 per cent (Rs 487.02 crore) during the same period a year ago.
    
Net NPAs also rose to 4.33 per cent (Rs 550.22 crore) from 2.97 per cent (Rs 322.48 crore) in the review period, it said.
    
Lakshmi Vilas scrips were trading at Rs 58.90 per share in noon trades on BSE, down 4.07 per cent from the previous close.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 14 2014 | 3:10 PM IST

Explore News