Private sector Lakshmi Vilas Bank has reported a 6.29% rise in its fourth quarter net profit ending 31 March, 2017 to Rs52.16 crore. The Tamil Nadu-based bank had reported net profit at Rs49.07 crore during corresponding quarter of previous year.
For the financial year ending 31 March, 2017 the net profit of the bank surged 42% to Rs256.07 crore from Rs180.23 crore registered during year ago period.
Total income for the quarter went up to Rs864.99 crore from Rs758.84 crore registered during corresponding quarter of the previous year.
For the 12-month period ending 31 March, 2017 total income of the bank went upto Rs3,349.42 crore from Rs2,872.83 crore during same period last year.
The board of directors have recommended a dividend of Rs2.70 per share (27%) for the year ending 31 March, 2017 subject to approval of shareholders at the ensuing annual general meeting.
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