Lakshmi Vilas Bank net profit up by 42% in Q2

Total income up by 14% has increased to Rs 697.88 cr from Rs 613.87 cr

Lakshmi Vilas Bank Limited has reported a 42.31% growth in net profit during the quarter ended September 2015 at Rs 44.83 crore as compared to Rs 31.50 crore, a year ago.

Total income has increased to Rs 697.88 crore from Rs 613.87 crore, up by 14%.

Bank's Gross NPA dropped to Rs 331.80 crore from Rs 510.97 crore, a year ago, per centage of Gross NPA was 1.89% as compared to 3.72%.

Net NPA was Rs 175.61 crore as compared to Rs 375.48 crore, a year ago. Per centage of net NPA was 1.01% as against 2.78%.

During the quarter the bank has raised tier II capital amounting to Rs 140.10 crore. The benefit of which in terms of capital adequacy will accrue in the ensuring quarters, said the Bank.