Lakshmi Vilas Bank has reported a 42 per cent rise in net profit for the September quarter at Rs 45 crore as against a profit of Rs 31.50 crore in the year ago quarter.
Net interest income grew to Rs 160 crore, up by 19 per cent from Rs 134 crore in the same quarter a year ago. Other income rose marginally to Rs 64 crore as against Rs 63 crore in the June to September period in FY14.
The asset quality of the bank improved with gross non-performing assets (NPA) substantially down to 1.89 per cent from 3.72 per cent as on September 30, last year. The Net NPA of the bank also reduced to 1.01 per cent from 2.78 per cent on a year-on-year basis.
As on September end, 2015, total advances increased by 28 per cent year-on-year to Rs 17,574 crore, while total deposits grew 21 per cent to Rs 23,445 crore.
Shares of Lakshmi Vilas Bank ended the day higher at Rs 91.10 (+Rs 2.25 or 2.53 per cent) on the BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.