Lakshmi Vilas Bank Q1 net up by 43% to Rs 40.25 cr

Total income moved up to Rs 693.05 cr, an increase of 18.39% against Rs 585.36 cr in the year-ago period

Lakshmi Vilas Bank reported a 42.98 per cent jump in net profit at Rs 40.25 crore for the first quarter ended June 30, against Rs 28.15 crore during the corresponding period in the previous financial year.

Total income moved up to Rs 693.05 crore, an increase of 18.39 per cent against Rs 585.36 crore in the year-ago period.

Gross non-performing assets (NPA) ratio stood at 2.72 per cent  against 3.96 per cent in the corresponding quarter, a year earlier. Net NPA during the quarter were at 1.72 per cent.

The Casa portfolio of the bank increased to Rs 387.44 crore as on June 30 from Rs 2,899.11 crore, a year ago, an increase of 33.69 per cent. The Casa percentage of total deposits improved to 17.42 per cent during the first quarter from 15.45 per cent, a year ago.

Net interest margins stood at 2.61 per cent compared to 2.47 per cent a year earlier..