Lakshmi Vilas Bank’s net profit rose 10.4 per cent to Rs 31.31 crore for the quarter ended December 2012 from Rs 28.35 crore during the corresponding quarter of the earlier fiscal.

Its income swelled to Rs 498.54 crore (Rs 429.49 crore).

Total expenditure (including provisions and contingencies) also increased to Rs 427.90 crore (Rs 381.38 crore).

The bank’s total business grew 14 per cent year-on-year to Rs 25,830 crore (Rs 22,625 crore).

While deposits grew by 11.2 per cent, the gross credit expanded at over 18 per cent.

Gross NPAs (non-performing assets) almost doubled to 4.41 per cent compared to 2.42 per cent during the corresponding quarter of the previous fiscal.

And net NPAs from 1.23 per cent as at end-December 2011 to 2.97 per cent during the corresponding quarter of 2012.

(This article was published on February 14, 2013)
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