ALSO READLakshmi Vilas Bank eyes Rs 400 cr from PEs, promoters Lakshmi Vilas Bank Q1 net jumps 50% to Rs 61 cr Lakshmi Vilas Bank Q4 net up 22.5% at Rs 49 cr Lakshmi Vilas Bank standalone net profit rises 44.66% in the September 2016 quarter Lakshmi Vilas Bank standalone net profit rises 22.46% in the March 2016 quarter
Private-sector lender Lakshmi Vilas Bank has posted a 44.63 per cent jump in net profit at Rs 64.84 crore for the second quarter ended September 30.
The Tamil Nadu-headquartered bank had registered a post-tax net profit of Rs 44.83 crore in the corresponding period of previous fiscal.
Its total income moved up to Rs 830 crore as against Rs 690 crore in the year-ago period, while the net non-performing assets (NPA) moved up to 1.87 per cent as compared with 1.30 per cent in the corresponding three months last year.
On the asset quality front, its gross non performing assets ratio improved to 2.70 per cent in the second quarter of the fiscal as against 1.89 per cent in corresponding quarter last fiscal.
It's provisions for bad assets increased to Rs 62.57 crore over Rs 33.36 crore in the year-ago period.
The bank's net profit for the first half of current fiscal stood at Rs 122.55 crore as against Rs 85.09 crore during the six-month period of last fiscal.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)