Lakshmi Vilas Bank's Half Year Profit soars by 160%

Lakshmi Vilas Bank Half Year profit soars by 160%. The net profit of the bank for the Half year ended September 2006 stood at Rs.16.40 Crores registering a growth of over 159.90% against Rs.6.31 Crore in the corresponding period last year.

The Net Profit earned in the second quarter ended September 30, 2006 is Rs.3.83 Crores registering a growth of 90% against Rs.2.01 Crores in the corresponding quarter of the previous year.

The total income of the bank for the second quarter has grown at 24.73% to Rs.117.33 crore from Rs.94.06 crores in the corresponding period of the previous year. For the half year ended September 2006 the total income earned is Rs.224.56 crore against 174.95 crore in the corresponding period in the previous half year registering 28.4% growth. The interest on advances has grown from Rs.55.38 crore to Rs.73.38 crore in the second quarter of the current year, posting a growth of 32.50%. The other income of the bank has touched Rs.24.76 crore as against Rs.18.02 crore for the corresponding period of the previous year again registering 37.40%. The EPS for half year ended September 2006 stands at Rs.8.39 (not annualized). During this quarter Capital Adequacy Ratio has improved to 10.15% from 9.31%.

Source : Equity Bulls

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