Chennai-headquartered Lakshmi Vilas Bank has posted a 50.72 per cent increase in its net profit for the first quarter ending June 2016 due to better yield on advances and improved cost of funds, said its Managing Director and Chief Executive Officer P. Mukherjee. For the period under review, the bank posted net profit of Rs.60.68 crore against Rs.40.26 crore in the year-ago period.Total income of the bank rose to Rs.774.87 crore from Rs.693.06 crore representing a year-on-year growth of 11.80 per cent.Total business grew to Rs.46,178.58 crore from Rs.38,802.35 crore, an increase of 19 per cent.
