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Lakshmi Vilas Bank touches lower circuit on reporting net loss of Rs 237.25 crore in Q1

Lakshmi Vilas Bank is currently trading at its lower circuit of Rs. 40.95, down by 2.15 points or 4.99% from its previous closing of Rs. 43.10 on the BSE.

The scrip opened at Rs. 43.80 and has touched a high and low of Rs. 43.80 and Rs. 40.95 respectively. So far 17520 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 104.40 on 20-Aug-2018 and a 52 week low of Rs. 39.05 on 06-Aug-2019.

Last one week high and low of the scrip stood at Rs. 49.30 and Rs. 39.05 respectively. The current market cap of the company is Rs. 1378.84 crore.

The promoters holding in the company stood at 7.11%, while Institutions and Non-Institutions held 19.65% and 73.24% respectively.

Lakshmi Vilas Bank has reported a net loss of Rs 237.25 crore for the quarter ended June 30, 2019 as compared to net loss of Rs 123.87 crore for the same quarter in the previous year. Total income of the Bank decreased by 14.01% at Rs 677.17 crore for Q1FY20 as compared Rs 787.51 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the April-June quarter of the current fiscal increased to 17.30%, as compared to 10.73% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 8.30% in Q1FY20.

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