Tamil Nadu-based Lakshmi Vilas Bank has declared its Q1 financial results for the fiscal year 2010-11. The company has informed that there has been an impressive rise in the net profit of the firm in the quarter under review against its like period a year ago.

Lakshmi Vilas Bank has managed to post an operating profit of Rs 53.73 crore for the quarter that ended in 30th June, 2010. There has been a growth of 65.58 in the operating profit figure in this quarter against its corresponding period last year.

The company has registered a net profit of Rs 23.39 crore during the April-June quarter of the year. It had posted a net profit of Rs 30.67 crore for the complete financial year of 2009-10. The bank has informed this fact in a statement released at Chennai.

The total income of the bank has gone up by 16.80 % and has been recorded Rs 274.99 crore during the June quarter of fiscal year 2010-11 which was Rs 235.44 crore for the same quarter in the preceding year.