Karur-based Lakshmi Vilas Bank (LVB) has reported a six-fold increase in the net profit during the quarter ended December 31,2008 at Rs 19 crore, compared with Rs 3 crore in the corresponding period a year ago.
Speaking to reporters in Chennai today V S Reddy, managing director, Lakshmi Vilas Bank said that the bank's interest earned for the quarter increased 37 per cent to Rs 173 crore as compared to Rs 126 crore a year ago.
Income on investments rose to Rs 31 crore from Rs 26 crore, an increase of 19 per cent. Other income rose over 130 per cent to Rs 37 crore from Rs 16 crore, during the same period last year.
Total income increased to Rs 211 crore during the third quarter as compared to Rs 143 crore during the corresponding period.
Gross NPA of the bank during thee quarter stood at 3.18 per cent as compared to 4.17 per cent and net NPA was at 1.47 per cent as compared to 1.74 per cent.
