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Lakshmi Vilas Bank has registered a 30 per cent growth in its operating profit during the first quarter of the current fiscal compared to the corresponding quarter of the earlier fiscal.
The operating profit rose to Rs 69.70 crore from Rs 53.73 crore in Q1 of 2010-11.
The profit after tax was up 5 per cent at Rs 24.58 crore (Rs 23.39 crore).
Net profit has been arrived after making a one-time provision (Rs 17.67 crore) covering the incremental floating provisions
The total income of the bank grew 34.53 per cent to Rs 369.94 crore (Rs 274.99 crore).
CASA balances increased by 19.82 per cent, overall deposits by 32 per cent to Rs 11,844 crore (from Rs 8,956 crore) and advances rose 30 per cent to Rs 8,258 crore (Rs 6,342 crore). Total business crossed the Rs 20,200-crore mark compared to Rs 15,369 crore, a 31 per cent increase year-on-year.
The gross and net NPAs as at June 30, 2011, stood at 2.09 per cent and 0.98 per cent respectively, well below the 4.27 and 3.31 per cent as at June 30, 2010, but marginally above the March 2011 figure of 1.93 and 0.90 per cent respectively
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