Laxmi Bank earns Rs 40.19 crore till Q1 with 32.65% growth; EPS and PE stands at Rs 18.02 and 11.93 times
Tue, Nov 12, 2019 6:40 AM on Financial Analysis, Latest,
Laxmi Bank Limited (LBL) has published its first quarter report for the FY 2076/77 today with 32.65% rise in net profit.
The bank’s profit has increased from Rs 30.30 crore in the first quarter of the fiscal year 2075/76 to Rs 40.19 crore in the first quarter of the fiscal year 2076/77. In the same quarter, the bank has Rs 19.90 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 2.34% (compared to immediate previous year ending) to Rs 82.20 arba and loans and advances to customers increased by 4.80% (compared to immediate previous year ending) to Rs 78.19 arba in the first quarter. The net interest income (core business income) of the bank has increased by 16.99% to Rs 86.57 crore from Rs 74 crore of the corresponding quarter.
Major Highlights:
* 2075/76 figure are of Immediate Previous Year Ending.
* Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q1 end paid up capital.
The bank’s paid up capital stands at Rs 8.92 arba with Rs 4.09 arba as its reserve and surplus.
The Non-Performing Loan (NPL) has decline to 1.04% from 1.5%.
In the first quarter, the annualized EPS of the bank stands at Rs 18.02. The net worth per share stands at Rs 145.94 and qtr end PE ratio stands at 11.93 times.
The FY 2075/76 dividend which includes 10% bonus share which is yet to be endorsed by AGM and adjusted in published Q1 report.
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