Lakshmi Vilas Bank tanks over 10% post Q4 results on profit booking

The stock dipped 10.7% to Rs 175 on BSE in early morning trade on profit booking.

Shares of Lakshmi Vilas Bank  dipped 10.7% to Rs 175 on BSE in early morning trade on profit booking after the company reported  6.29% year on year (Y-o-Y) rise in net profit to Rs 52.16 crore for the quarter ended March 31, 2017 (Q4FY17).

Net interest income (interest earned minus interest expended) was up 31.8% to Rs 228 crore as against Rs 173 crore a year ago.

The bank’s assets quality improved sequentially with gross non-performing assets (NPAs) as percentage of gross advances stood at 2.67% in Q4 against 2.78% in Q3. Net NPAs also improved to 1.76%