Laxmi Bank net profit elevates by 27.78%; EPS shrink to Rs 13.23

Laxmi Bank Limited(LBL) has published its 2nd quarter report for the FY 2074/75. The net profit of this Commercial bank has increased by 27.78%. 

As per the published report, Laxmi Bank has earned a net profit of Rs 51.93 crore. The profit was Rs 40.64 crore in the corresponding quarter of last fiscal year. A surge of 29.41% is noticed in company's operational profit. It amounts to Rs  88.13 crore, it was Rs 68.10 crores in the corresponding quarter of last fiscal year.

The commercial bank's net interest income has increased to Rs 99.99 crore, up from Rs 77.66 crore. This shows a rise of 28.76%. Company's interest income has surged by 71.64 %, whereas interest expense escalated by 101.87%.  

LBL has collected a total deposit of Rs 60.28 arba, approx. 8.50% more than that collected last year. Total lending has increased by approx. 17.80% in the review period.

On the positive side

• The operating profit has surged in the review period.
• LBL now has an adequate capital with CAR at 13.46%.   

On the negative side,

• Earning per share has decreased to Rs 13.23 which was Rs 26.74 in the same quarter of previous year.
• A huge increment in Interest expense.
• Reserve decreased by approx. 48%

(Figure In 000's)