Lakshmi Vilas Bank reports 16% increase in Q2 net profit

Private sector lender Lakshmi Vilas Bank (LVB) has reported results for the second quarter ended September 30, 2011.

The bank has reported an 16% jump in net profit to Rs 29 crore for the second quarter ended September 30, 2011, against Rs 25 crore for the July-September quarter of 2010. Total income of the bank rose by 39.02% to Rs 411.50 crore during the quarter from Rs 296 crore in the same quarter last fiscal.

The gross non-performing assets (NPAs) of the South India-based lender decreased to Rs 197 crore during the quarter from Rs 264 crore in the corresponding year-ago period.