Laxmi Sunrise Bank’s Net Profit Increases

Apr 19, 2024 07:35 AM Merolagani

Laxmi Sunrise Bank  (LSL) has published its third quarter report of the current FY. As per the report, the bank’s net profit has increased during the period.

The bank earned a net profit of Rs 1.61 billion in the review period. The net profit increased by 27.70 percent compared to the Rs 1.26 billion of the corresponding period of the last FY.

Although the bank increased its net interest income significantly, increase in impairment charge squeezed growth of net profit.

In the review period, its net interest income increased by 103.49 percent and  net fee and commission income by 102.98 percent.  Similarly, its total operating income increased by 101.63 percent and operating profit by 11.78 percent. During the period, its bad debt increased to 5.49 percent from 1.82 percent. The bank incurred impairment charges of Rs 4 billion.

However, the bank has a distributable loss of Rs 1.24 billion.

The bank maintained EPS of Rs 9.29, P/E ratio of 16.38 times and net worth per share of Rs 171.59.

The bank with paid-up capital of Rs 23.18 billion has a reserve fund of Rs 16.60 billion. The bank collected deposit of Rs 311.61 billion and extended the loan of Rs 249.67 billion during the period.


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