Published on 12/10/2017 12:13:00 PM | Source: Dion Global Solutions Ltd

Lakshmi Vilas Bank extends fall on weak Q2

Posted in Stock On The Move | #Banking Sector #Stock On The Move #Lakshmi Vilas Bank #Quarterly Result


Shares of Lakshmi Vilas Bank continued losing streak for the second day on Thursday and tumbled over fell over 5 per cent on the Bombay Stock Exchange after private-sector lender reported a sharp decline of 83.81 per cent in its net profit at Rs 10.50 crore for the second quarter ended September 30, 2017 compared to Rs 64.85 crore in the corresponding period last year, weighed down by rise in bad loans. Dented by weak Q2, shares of the bank declined as much as 5.35 per cent to trade at intra-day low of Rs 133.40 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the lender were trading 3.59 per cent lower at Rs 135.70 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 31,937.84, up 103.85 points, or 0.33 per cent, at 11:22 hours.