Lakshmi Vilas Bank, a private sector banking institution, bank reported a 42.98% jump in net profit for the quarter ended Jun. 30, 2015 to Rs 402.6 million compared with Rs 281.6 million for the corresponding quarter of the previous financial year.
Quarterly income totaled at Rs 6.93 billion, an increase of 18.40% over Rs 5.85 billion in the same period a year ago.
Operating profit for the first quarter ended June 2015 stood at Rs 1.09 billion as against Rs 697.6 million during the corresponding period of the previous year, with a remarkable growth of 57.06%.
Total interest income for the quarter ended June 2015 grew by 15.78%, to Rs 6.14 billion against Rs 5.30 billion in the corresponding period of previous financial year.
Net interest margin (NIM) stood at 2.61% as at Jun. 30, 2015, up from 2.47% as at Jun. 30, 2014.
Percentage of gross and net NPA as on Jun. 30, 2015 stood at 2.72% and 1.72% respectively against 3.96% and 3.19% respectively as at Jun. 30, 2014.
Other income of the bank increased from Rs 549.7 million to Rs 789.7 million, registering y-o-y growth of 43.66%.
CASA portfolio of the bank increased to Rs 38.74 billion as at Jun. 30, 2015 from Rs 28.98 billion during the corresponding quarter of the previous year, registering a growth of 33.69%, Y-o-Y. CASA as percentage to total deposits improved to 17.42% at Q1 of FY16 from 15.45% at Q1 of FY15.
Total deposits stood at Rs 222.39 billion from Rs 187.58 billion for the corresponding period of previous financial year, registering 18.56% growth, Y-o-Y. Gross advances grew by 23.40%, to Rs 165.62 billion as of Jun. 30, 2015 from Rs 134.22 billion as of Jun. 30, 2014.
Total business has grown to Rs 388.02 billion from Rs 321.80 billion of the corresponding period of previous FY with an increase of 20.58% Y-o-Y.
Cost to income ratio improved to 51.13% for Q1 of FY16 from 59.24% during Q1 of FY15. Return on Assets (ROA) stood at 0.65% during Q1 of FY16, whereas it was 0.53% during Q1 of FY15.
Shares of the bank gained Rs 0.05, or 0.05%, to settle at Rs 94.35. The total volume of shares traded was 504,440 at the BSE (Thursday).