Lakshmi Vilas Bank reported a 90 per cent growth in its March quarter net profit at ₹40 crore from ₹21 crore in corresponding last quarter on higher income.
Net interest income, the difference between the interest earned and expended, grew 11 per cent to ₹138.87 crore over the corresponding last quarter’s ₹125.33 crore. Other income grew 61 per cent to ₹93.02 crore (₹57.57 crore a year ago). For the year-ended March 2015, LVB’s net profit rose 122 per cent to ₹132.29 crore from ₹59.66 crore in the previous year. The board of LVB has recommended a dividend of 20 per cent (₹2 on face value of ₹10) for fiscal 2014-15. LVB shares ended one per cent higher at ₹103.35 on the BSE on Wednesday.