Laxmi Bank’s Q1 earning surges by whopping 99.63% to Rs.11.03 crore

Laxmi Bank (LBL) has registered massive profit rise of 99.63 percent in the first quarter of the fiscal year 2072/73. According to the unaudited financial report published by the bank today, its net profit has elevated to Rs. 11.03 crore in first quarter up from Rs. 5.52 crore in the corresponding quarter of the previous fiscal year. Laxmi Bank’s net interest income has risen to Rs.29.21 crore in the first quarter as compared to Rs. 20.71 crore in the corresponding quarter. It’s paid up capital remains at Rs.3.03 arba. The bank also collected huge amount of deposits equal to Rs 41.36 arba in Q1, up from Rs.31.52 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 34.06 arba in Q1 whereas in the same period last year the figure stood at Rs.26.55 arba. Its non-performing loan declined to 0.88 percent in Q1 from 1.66 percent in the previous year report. Laxmi Bank’s annualized earning per share (EPS) stands at Rs.13.30, net worth per share at Rs.154.72, and P/E ratio at 38.35 times.