Private sector lender Lakshmi Vilas Bank has reported an 18.03 per cent jump in net profit to Rs 29.12 crore for the second quarter ended September 30, 2011, on the back of higher income.
The bank had posted a net profit of Rs 24.67 crore for the July-September quarter of 2010.
Total income of the bank rose to Rs 411.49 crore during the quarter from Rs 295.95 crore in the same quarter last fiscal, LVB said in a filing to the BSE.
During the first six months of the current fiscal, the lender’s net profit rose 11.73 per cent to Rs 53.70 crore from Rs 48.06 crore in the corresponding period last fiscal, it said.
The bank’s total income during April-September period of the 2011-12 financial year rose to Rs 781.43 crore from Rs 570.94 crore in the same period of FY2010-11, it added.
The gross non-performing assets (NPAs) of the South India-based lender decreased to Rs 197.12 crore during the quarter from Rs 263.62 crore in the corresponding year-ago period.
Shares of the lender were down marginally 0.46 per cent at Rs 97.30 apiece in afternoon trade on the BSE.