Lakshmi Vilas Bank Q3 net down 76 pc

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.

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.

It's 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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Kerala, god’s own country, will always be free spirited

    Candy is dandy, but liquor is quicker,” the celebrated American poet Ogden Nash had once said famously.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>:The over-the-top effect effect

The overconfidence effect is a bias in which someone’s subjective ...

Parvez Imam

The absoluteness in representations

When a representation replaces the original object or subject, a ...

Dharmendra Khandal

Religion and conservation must go hand in hand

In 1986, former president of WWF International, HRH Prince Philip, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture