Lakshmi Vilas Bank Q1 profit rises 43% to Rs. 40.25 cr

Lakshmi Vilas Bank today reported a 42.98 per cent jump in net profit at Rs. 40.25 crore for the first quarter ended June 30, 2015, against Rs. 28.15 crore during the same period of the previous fiscal.

Its total income moved up to Rs. 693.05 crore, an increase of 18.39 per cent as against Rs. 585.36 crore in the year—ago period.

On the asset quality front, its gross Non Performing Assets (NPA) ratio stood at 2.72 per cent as against 3.96 per cent in the June 2014 quarter.

The Tamil Nadu—based bank’s net NPA during the quarter were at 1.72 per cent.

Shares of Lakshmi Vilas Bank were trading at Rs. 96.05 apiece, up 1.75 per cent from the previous close on the BSE.


Source : Thehindubusinessline