Lakshmi Vilas Bank reports net profit of Rs 27.38 crore for Q4

Lakshmi Vilas Bank has reported results for the quarter and the year ended March 31, 2011

The bank has reported net profit of Rs 27.38 crore as compared to a loss of Rs 20.77 crore for the same quarter last year. Its total income has increased by 27.63% at Rs 343.33 crore for the quarter under review from Rs 269.01 crore in the corresponding previous quarter.

The bank has registered a growth of 229.77% in its net profit for the FY-11 at Rs 101.14 crore as compared to a net profit of Rs 30.67 crore for the previous year. Its total income has increased by 18.66% at Rs 1201.85 crore for the year from Rs 1012.88 crore in previous year.

Lakshmi Vilas Bank has recommended a dividend of 25%  or Rs 2.50 per share for the year 2010-2011 on the equity shares, subject to approval of shareholders at the ensuing Annual General Meeting of the Bank.