Lakshmi Vilas Bank tumbles on reporting 9% drop in Q4 net profit

Lakshmi Vilas Bank is currently trading at Rs. 77.30, down by 2.30 points or 2.89% from its previous closing of Rs. 79.60 on the BSE.

The scrip opened at Rs. 79.65 and has touched a high and low of Rs. 80.50 and Rs. 76.50 respectively. So far 7955 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 130.00 on 15-Jul-2011 and a 52 week low of Rs. 75.10 on 18-May-2012.

Last one week high and low of the scrip stood at Rs. 84.00 and Rs. 76.50 respectively. The current market cap of the company is Rs. 751.92 crore.

The promoters holding in the company stood at 11.54% while Institutions and Non-Institutions held 20.38% and 68.08% respectively. 

Lakshmi Vilas Bank has reported drop of 8.81% in its net profit during the fourth quarter ended March 31, 2012 at Rs 24.96 crore as compared to Rs 27.37 crore, a year ago. However, the bank’s total income rose by around 35.80% to Rs 466.25 crore from Rs 343.33 crore.

The bank’s gross non-performing assets stood at Rs 307.73 crore by end of the fourth quarter as compared to Rs 157.78 crore, a year ago. In percentage terms, the gross NPA was 2.98% compared with 1.93% a year ago. The net NPAs stood at Rs 17,708.87 crore versus Rs 7.287.38 crore. Net NPAs rose to 1.74% from 0.90%.