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Lakshmi Vilas Bank's net profit rose to Rs 28.15 cr at the end of the first quarter of the current fiscal, up by Rs 2.80 cr compared to the corresponding quarter of the earlier fiscal.
The bank's operating profit as at end of June 2014 however was lower at Rs 69.76 cr (Rs 84.25 cr), due to higher cost of deposits, employee cost and other operating expenses.
The gross and net NPA fell from a high of 5.27 per cent and 3.74 per cent at the end of the first quarter of the earlier fiscal to 3.96 per cent and 3.19 per cent respectively, at the end of the corresponding quarter of the current fiscal.
Its deposits grew 19 per cent y-o-y, while advances were less at 11 per cent only, the bank's Managing Director Rakesh Sharma said.
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