Laxmi Bank reports increase in net profit by 25 percent

January 28, 2020 | Investopaper

Laxmi Bank has reported an increase in net profit in the second quarter of the fiscal year 2076/77. The company has earned a profit of Rs. 90.30  crores in the first 6 months which is an increment by almost 25% from the corresponding quarter of the previous year.

The increase in profit is mainly due to the increment in net interest income of the bank. The net interest income has increased by 20 percent as compared to the previous year’s corresponding quarter.

The current capital of Laxmi Bank is Rs. 9.81 Arba. Likewise, the total reserve is Rs. 2.31 Arba.

Laxmi Bank has collected the deposits of Rs. 88.23 Arba and floated the loans of Rs. 80.32 Arba until the second quarter.

The base rate and NPL of the bank have declined which is encouraging. Likewise, per-share earnings (EPS) and per share net worth stand at Rs. 18.41 and Rs. 133.90 respectively.

The second-quarter report of Laxmi Bank is summarized in the table below:

Laxmi Bank Second Quarter Report, FY 2076/77

HEADINGS 2nd QTR, 2076/77 2nd QTR, 2075/76 PERCENT CHANGE
PAID-UP CAPITAL (Rs. In Arba) 9.81 8.92 9.98
RESERVE & SURPLUS (Rs. In Arba) 2.31 2.28 1.32
DEPOSITS from the customer (Rs. In Arba) 88.23 80.32 9.85
LOANS  (Rs. In Arba) 85.05 74.62 13.98
HEADINGS 2nd QTR, 2076/77 2nd QTR, 2075/76 PERCENT CHANGE
NET INTEREST INCOME (Rs. In Arba) 1.74 1.45 20
PROFIT (Rs. In Arba) 0.90 0.72 25
DISTRIBUTABLE PROFIT (Rs. In Arba) 0.59
NON PERFORMING LOANS, NPL (%) 0.88 1.11 -20.72
BASE RATE(%) 10.09 10.36 -2.61
EARNINGS PER SHARE, EPS (Rs.) 18.41
NETWORTH PER SHARE (Rs.) 133.90
MARKET PRICE PER SHARE (Rs.) [Poush end, 2076] 206
P/E RATIO 11.19

Note: The above figures are based on the unaudited second-quarter report published by Laxmi Bank. Investors are advised to take other things into consideration along with this report while making investment decisions. The numbers may vary after the final audit. 

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