Laxmi Bank profit surges by 908.28%, Century Bank earns Rs 3.55 crore in Q1

ShareSansar, November 16:

Publishing the unaudited financial quarterly report today, Laxmi Bank Ltd. (LBL) stated that it’s earned Rs 5.23 crore in Q1, up from Rs 51.90 lakh in the corresponding, which is an increment of 908.28 percent than previous year first quarter.

Net interest income of the bank increased to Rs 19.24 crore, up from Rs 5.94 crore in the previous year, which is an astounding growth of 223.82 percent.

The bank mobilized Rs 31.48 arba in deposits and extended a total of Rs 26.44 arba on loans compared to Rs 26.59 arba deposits and Rs 22.46 arba loans in the previous fiscal year same period.

The bank has provisioned Rs 13.24 crore for the possible losses.

There is a decrease in the Non-performing loan (NPL) of the bank. It comes down to 1.69 percent from 2.04 percent in the previous fiscal year.  

Laxmi Bank annualized EPS is at Rs 8.95, while its P/E ratio stands at 69.16 times and its net worth per share at Rs 154.84.

Similarly, Century Commercial Bank Limited (CCBL) earns net profit of Rs 3.55 crore in the first quarter of the FY 2071/72, whereas bank’s earned Rs 2.39 crore in same period of previous fiscal year.

Its Net Interest Income stands at Rs 13.65 crore compared to Rs 6.73 crore of last fiscal year, which signal that there is a satisfactory growth in the business of the bank.

Deposits and loans stood Rs 22.11 arba and Rs 12.92 arba respectively during the published period.

The bank managed to write back Rs 34.75 lakh from the amount earlier provisioned for the possible losses. At the same time, the company has kept Rs 4.59 crore for the provision purpose.

Its NPA is 0.46%, annualized EPS is Rs 1.78 and net worth per share is Rs 113.68.

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