1. LVB Q1 net profit up 51% at Rs 61 crore

LVB Q1 net profit up 51% at Rs 61 crore

Operating profit for the first quarter grew 17% to Rs 125.84 crore as against Rs 107.56 crore during the corresponding period of the previous year, said a press release here on Wednesday.

By: | Chennai | Published: July 21, 2016 6:09 AM

Lakshmi Vilas Bank (LVB) has reported a 51% growth in its net profit for the quarter ended June to Rs 60.68 crore as compared to `40.26 crore in the same quarter last fiscal.

Operating profit for the first quarter grew 17% to `125.84 crore as against Rs 107.56 crore during the corresponding period of the previous year, said a press release here on Wednesday.

Total interest income for the quarter grew 11.65%, to `685.66 crore as against `614.09 crore in the corresponding period of previous financial year. Total income stood higher at `774.87 crore, up from Rs 693.06 crore for Q1 of the previous year with a growth of 11.80%.

In a press release, the bank further said that percentage of gross and net NPA as on June 30, 2016 stood at 2.14% and 1.30%, respectively. Netinterest margin stood at 2.75% (2.61%). CASA portfolio increased to `4,180.65 crore during the quarter from `3,874.44 crore a year ago.

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