Lakshmi Vilas Bank Q3 net profit up 10.4 p.c.

Logo of Lakshmi Vilas Bank. File photo

Private sector Lakshmi Vilas Bank has reported a 10.4 per cent jump in net profits for the third quarter ending December 31, 2012 at Rs 31.30 crore.

The Tamil Nadu based-bank had registered Rs 28.35 crore net profit in the corresponding period of the previous year, a bank statement said.

For the nine month period ending December 31, 2012 net profits declined by 9.24 per cent to Rs 74.47 crore from Rs 82.06 crore registered during the corresponding period of the previous year.

Total income for the third quarter ending Dec 31, 2012 rose to Rs 498.54 crore from Rs 429.49 crore registered during the corresponding period of the previous year.

For the nine month period ending Dec 31, 2012 total income soared to Rs 1,436.80 crore as against Rs 1,210.92 crore registered in the same period of the previous year, it said.

As of Dec 31, 2012 the gross NPA stood at 4.41 per cent and Net NPA at 2.97 per cent, it said.

The bank currently has 291 branches and 631 ATMs across the country. For expansion plans, the Bank has obtained permission from RBI to open 71 branches across the country for fiscal 2013-14, it said.