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HomeBusinessLakshmi Vilas Bank Q4 net soars 90.5pc

Lakshmi Vilas Bank Q4 net soars 90.5pc

Private sector lender Lakshmi Vilas Bank on 29th April, has reported a 90.5 per cent jump in its net profits for the fourth quarter ending March 31 to Rs. 40.07 crore.

The Tamil Nadu-based bank reported a net profit of Rs. 21.03 crore for the corresponding period last year.

Total income of the bank for the March quarter increased to Rs. 663.96 crore from Rs. 571.42 crore during same period last year.

For the full fiscal year, net profit soared by 121.7 per cent to Rs. 132.28 crore from Rs. 59.65 crore registered year ago, the bank said in a BSE filing.

Total income grew to Rs. 2,498.56 crore from Rs. 2,187.54 crore for the full financial year.

Company’s Board in its meeting has recommended a dividend of 20 per cent (Rs. 1 per share) for the year 2014-15, subject to the approval of shareholders.

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