Lakshmi Vilas Bank reports 51% rise in Q1 net profit

The Lakshmi Vilas Bank Ltd. - (Amalgamation) | Bank - Private | BFSI | BSE: 534690 | NSE: LAKSHVILAS

21 Jul 2016 Evaluate

Lakshmi Vilas Bank has reported results for first quarter ended June 30, 2016.

The bank has reported 50.75% rise in its net profit at Rs 60.69 crore for the quarter as compared to Rs 40.26 crore for the same quarter in the previous year. Total income of the bank increased by 11.81% at Rs 774.88 crore for quarter under review as compared to Rs 693.06 crore for the quarter ended June 30, 2015.

The bank’s gross NPA for the April-June quarter of the current fiscal improved to 2.14%, as compared to 2.72% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 1.30% in Q1FY17.

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