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Shares of Lakshmi Vilas Bank has moved higher by 6% to Rs 109 on the NSE after reporting a strong 91% year on year (YoY) jump in net profit at Rs 40 crore for the fourth quarter ended March 2015 (Q4) due to one-time gain of Rs 11 crore on account of changed in method of depreciation, while bad loans decreased. The private sector lender had profit of Rs 21 crore in a year ago quarter.
Net interest income (interest earned minus interest expended) grew 11% at Rs 139 crore on YoY basis.
For the quarter, both gross non-performing assets (NPA) and net NPA reduced substantially. While gross NPA declined YoY to 2.75% from 4.19%, net NPA to 1.85% from 3.44%. Sequentially, too, these ratios increased 52-62 basis points.
For the year, gross NPA fell to 2.75% of total assets from 4.19% a year ago, while net NPA declined to 1.85% from 3.44%.
The stock opened at Rs 103 and touched a 52-week high of Rs 111 on the NSE. A combined 3.04 million shares changed hands on the counter till 1351 hours on the NSE and BSE.
Net interest income (interest earned minus interest expended) grew 11% at Rs 139 crore on YoY basis.
For the quarter, both gross non-performing assets (NPA) and net NPA reduced substantially. While gross NPA declined YoY to 2.75% from 4.19%, net NPA to 1.85% from 3.44%. Sequentially, too, these ratios increased 52-62 basis points.
For the year, gross NPA fell to 2.75% of total assets from 4.19% a year ago, while net NPA declined to 1.85% from 3.44%.
The stock opened at Rs 103 and touched a 52-week high of Rs 111 on the NSE. A combined 3.04 million shares changed hands on the counter till 1351 hours on the NSE and BSE.
