Laxmi Bank Q3 profit rises slightly to Rs 24.04 cr; NPL down from 2.19% to 1.33%

ShareSansar, May 12:

Laxmi Bank Limited (LBL) has posted 2.76 percent growth in net profit for the third quarter of the current fiscal year 2071/72.

Publishing the unaudited financial report for the third quarter today, one of the leading commercial banks has stated that the bank’s net profit rose to Rs 24.03 crore, up from Rs 23.35 crore in the corresponding quarter of 2070/71.

The bank has mobilized deposits of Rs 36.46 arba in the 3rd quarter compared to Rs 29.55 arba in the corresponding quarter last year. Likewise, it extended loans of Rs 29.97 arba, up from Rs 22.98.

Laxmi Bank’s net interest income has risen from Rs 52.41 crore in the corresponding quarter last year to Rs 65.79 crore in the third quarter of 2071/72.

It posted an operating profit of Rs 33.87 crore.

The bank has managed to lower its NPL significantly from 2.19 percent in the third quarter of the last fiscal to 1.33 percent this year.

Its EPS now stands at Rs 13.69, net worth per share at Rs 158.51, PE ratio at 38.35 times and CD ratio at 78.25%.