 "Lakshmi Vilas Bank net profit up 22%")
Lakshmi Vilas Bank (LVB) has posted a growth of 22.5 per cent in net profit at Rs 49.07 crore during the quarter ended March 31, 2016, as compared to Rs 40.07 crore during the same quarter of previous financial year.
The total income stood at Rs 758.84 crore during the quarter, as against Rs 663.97 crore for the corresponding quarter of last year, an increase of 14.3 per cent.
The total income stood at Rs 758.84 crore during the quarter, as against Rs 663.97 crore for the corresponding quarter of last year, an increase of 14.3 per cent.
The gross non performing assets (NPA) of the company has seen a drop to Rs 391.25 crore (1.97 per cent of gross advances) during the quarter compared to Rs 454.61 crore (2.75 per cent). Net NPA stood at Rs 231.64 crore (1.18 per cent), as compared to Rs 302.48 crore (1.85 per cent) registered during the last quarter of previous financial year.
The net profit during the year ended March 31, 2016 grew to Rs 180.23 crore from Rs 132.28 crore during the previous year. The total income has seen a growth to Rs 2,872.83 crore during the year ended March 31, 2016, as against Rs 2,498.56 crore during the financial year of 2014-15.