Garima Bikas Bank earning surges by 69% to Rs 24.85 crore in Q3; EPS at Rs 25.56

- ShareSansar, April 28, 2017  on Featured , Financial Analysis , Latest , Stock Market

Garima Bikas Bank Limited (GBBL) has registered a profit rise of 69.49 percent in the third quarter of the current fiscal year 2073/74.

According to the unaudited financial report published by the national level development bank today, its net profit has surged to Rs 24.85 crore in third quarter, up from Rs 14.66 crore in the corresponding quarter of the last fiscal year 2072/73. The operating profit has increased to Rs 38.76 crore from Rs 23.04 as compared to the corresponding quarter of last fiscal year.

Garima Bikas Bank’s deposit base has increased by a massive 70.74% in this period. It now has deposits of Rs 13.39 arba with floated loans worth Rs 12.09 arba. In the same period last year, the figures stood at only Rs 7.84 arba and Rs 7.16 arba respectively. With this, it has been able to increase its net interest income by almost 75% to Rs 54.37 crore.

Its non-performing loan has slightly increased to 0.74 percent in Q3 from 0.62 percent in the previous year report.

Annualized Earnings per share (EPS) of GBBL now stands at Rs 25.56, net worth per share at 136.17, and the P/E ratio as of the end of Q3 at 13.73 times.

Garima Bikas Bank has been floating its 10:7 right share to its shareholders from Baisakh 14, 2074. Currently, its paid up capital remains at Rs 1.29 arba with reserve of Rs 46.89 crore. After capitalization of right share, its paid up capital will reach Rs 2.20 arba. Accounting for this increase in capital, its diluted EPS is Rs 15.03 per share.

Major Highlights:

Indicators (Rs in “000”)FY 2073/74 Q3FY 2072/73 Q3Difference (%)
Paid Up Capital         1,296,614             853,20051.97%
Reserve and Surplus             468,960             272,61072.03%
Deposits       13,394,570         7,844,95370.74%
Loans and Advances       12,090,493         7,168,27868.67%
Net Interest Income             543,710             310,82874.92%
Provision               45,151               30,065
Write Back                 2,500                        –
Operating Profit             387,656             230,44568.22%
Net Profit             248,552             146,64769.49%
Capital Adequacy Ratio17.18%14.13%
Base Rate11.04%8.65%
Cost of Fund6.74%5.03%
CD Ratio (as per NRB)76.02%80.00%
EPS (Annualized)25.5622.9211.53%
PE Ratio13.73
Networth Per Share136.17