Jyoti Bikas Bank's FY 2082/83 Net Profit Soars Over 9-Fold to Rs. 1 Arba

Jyoti Bikas Bank Limited (JBBL) has released its fourth-quarter financial results for FY 2082/83, reporting a remarkable turnaround in profitability, supported by strong operating performance and a significant reduction in impairment charges.

The development bank posted a net profit of Rs. 1.00 Arba, registering an impressive 905.75% year-on-year increase from Rs. 10 crore in the corresponding period last year. The performance was backed by an 11.77% growth in net interest income, which rose to Rs. 2.34 Arba from Rs. 2.09 Arba in FY 2081/82.

Customer deposits increased by 11.15% to Rs. 67.22 Arba, while loans and advances expanded by 6.61% to Rs. 49.58 Arba. Meanwhile, operating profit surged 360.15% to Rs. 1.79 Arba.

The bank also reported a reversal in impairment charges for loans and advances, recording Rs. 30.12 crore in write-back, compared to an impairment expense in the previous year, significantly boosting overall profitability.

On the prudential front, the Capital Adequacy Ratio (CAR) stood at 14.05%. The Non-Performing Loan (NPL) ratio improved to 6.55% from 7.75% a year earlier, reflecting better asset quality. The cost of funds also improved, declining to 3.76% from 4.99%.

The bank reported an Earnings Per Share (EPS) of Rs. 22.88, while Net Worth Per Share increased to Rs. 170.97.

Report:

Major Financial Highlights

Particulars (In Rs '000) Jyoti Bikash Bank Limited
Q4 2082/83 Q4 2081/82 Difference
Paid Up Capital 4,395,785.89 4,395,785.89 0.00%
Share Premium 0.00 0.00 0.00%
Retained Earnings 144,364.30 -999,495.26 -114.44%
Reserves 2,975,403.75 3,230,303.32 -7.89%
Deposit 67,229,291.96 60,482,530.19 11.15%
Loans & Advances  49,583,993.20 45,235,051.25 9.61%
Net Interest Income 2,341,970.48 2,095,313.46 11.77%
Personnel Expenses 826,774.53 693,614.89 19.20%
Impairment Charges -301,233.65 878,526.14 -134.29%
Operating Profit 1,793,750.30 389,821.35 360.15%
Net Profit 1,005,952.99 100,020.46 905.75%
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments  144,364.30 -999,495.26 -114.44%
Capital Adequacy (%) 14.05 13.84 1.52%
NPL (%) 6.55 7.75  
Cost of Fund (%) 3.76 4.99 -24.65%
EPS  (In Rs.) 22.88 2.28 905.75%
Net Worth per Share (In Rs.) 170.97 150.75 13.42%
Qtr end PE Ratio (times) 14.81 - -
Qtr End Market Price 339 - -