Lakshmi Vilas Bank has reported a marginal rise in its net profit at Rs. 25.23 crore in the first quarter ended June 30, 2012, against Rs. 24.58 crore in the corresponding quarter of the previous financial year.
Total income of the bank registered a growth of 25 per cent to Rs. 461.25 crore from Rs 369.94 crore in the year-ago period.
Interest income grew by 25 per cent to Rs. 419.06 crore from Rs. 335.77 crore, and other income by 24 per cent to Rs 42.19 crore from Rs 34.17 crore in the first quarter of last financial year.
Total business increased by 22 per cent year-on-year to Rs. 24,640 crore from Rs. 20,206 crore.
While deposits went up by 19 per cent to Rs. 14,136 crore from Rs. 11,844 crore, advances registered a rise of 25.6 per cent Rs. 10,504 crore from Rs. 8,362 crore as on June 30, 2011.
Slippages have impacted non-performing assets (NPA) with the gross NPA at 3.58 per cent, and the net NPA at 2.21 per cent against 2.98 per cent and 1.74 per cent, respectively as on March 31, 2012.