Higher impairment charges and Higher operating expenses results in 24.08% decline in Net Profit of Muktinath Bikas Bank; EPS at Rs. 15.22
Fri, Aug 14, 2020 11:35 AM on Latest, Company Analysis,
Muktinath Bikas Bank Limited (MNBBL) has published its fourth-quarter report of FY 2076/2077 with a decrease in the bottom line by 24.08%.
As per the unaudited financial report published by the company today, Net profit has decreased to Rs. 65.03 crores compared to Rs. 84.84 crore of the corresponding quarter of the previous year.
As per the report, despite the increase in net interest income (core business revenue) by 17.22% to Rs. 2.22 Arba in this quarter, higher impairment charges and higher operating expenses led to a decrease in Net Profit of the bank.
The company has a distributable profit of Rs. 47.33 crores which mean MNBBL has the capacity to distribute around 11% (approx.) dividends to its shareholders for FY 2076/77.
The bank has collected a total deposit from its customers of Rs. 57.29 Arba whereas floated a total loan of Rs. 47.69 Arba till this quarter.
The paid-up capital of the bank stands at Rs. 4.32 Arba with a reserve and surplus of Rs. 56.16 crores in the fourth quarter of FY 2076/2077. The Non-Performing Loan (NPL) of the company increased to 0.53% in this quarter from 0.07% from the corresponding quarter of the previous year.
The Earnings per share (EPS) of the Bank stood at Rs. 15.22 and Net worth per share stood at Rs. 133.89. The shares of the bank traded at a P/E multiple of 20.39 times.
Major Highlights:
|
Particulars ('000) |
Muktinath Bikas Bank Limited |
||
|---|---|---|---|
|
Q4, 2076/2077 |
Q4,2075/2076 |
Difference |
|
|
Paid-up Capital |
4,324,989.48 |
3,064,760.12 |
- |
|
Share Premium |
64,012.14 |
- |
- |
|
Retained Earnings |
497,649.87 |
705,631.06 |
-29.47% |
|
Reserves |
904,258.96 |
679,112.23 |
33.15% |
|
Deposit from Customers |
57,295,224.11 |
41,470,704.75 |
38.16% |
|
Loans & Advances to Customers |
47,690,750.59 |
38,144,321.48 |
25.03% |
|
Net Interest Income |
2,221,105.08 |
1,894,775.43 |
17.22% |
|
Fee and Commission Income |
508,506.99 |
615,635.92 |
-17.40% |
|
Impairment Charge/(Reversal) |
416,507.59 |
146,046.23 |
185.19% |
|
Personnel Expenses |
846,543.29 |
684,491.69 |
23.67% |
|
Operating Profit |
921,708.99 |
1,218,055.95 |
-24.33% |
|
Profit/(Loss) for the Year |
650,038.37 |
856,166.47 |
-24.08% |
|
Total Comprehensive Income |
698,510.11 |
848,818.33 |
-17.71% |
|
Distributable Profit |
473,363.37 |
- |
- |
|
Capital Adequacy Ratio (CAR) (%) |
12.83% |
13.44% |
- |
|
Non-Performing Loan (NPL) |
0.53% |
0.07% |
- |
|
CCD (as per NRB Directive) |
74.89% |
76.42% |
- |
|
Cost of Fund (%) |
7.52% |
8.69% |
- |
|
Base Rate (%) |
9.98% |
11.36% |
- |
|
EPS (Rs.) |
15.22 |
19.24 |
-20.89% |
|
Net worth per share (Rs.) |
133.89 |
145.18 |
-7.78% |
|
Qtr End Price |
312 |
- |
- |
|
Qtr End P/E ratio (times) |
20.49 |
- |
- |
|
Qtr End P/B ratio(times) |
2.33 |
- |
- |
