Kumari Bank’s Net Profit Surges 305.96% to Rs. 7.38 Arba in Q4 FY 2082/83; EPS at Rs. 28.17

Kumari Bank Limited (KBL) has released its unaudited fourth-quarter financial results for FY 2082/83, reporting a 305.96% surge in net profit. The bank earned Rs. 7.38 Arba during the quarter, compared to Rs. 1.81 Arba in the corresponding quarter of the previous fiscal year.

The bank’s paid-up capital remained unchanged at Rs. 26.22 Arba. Meanwhile, retained earnings improved considerably, with accumulated losses narrowing from Rs. 3.84 Arba in Q4 FY 2081/82 to Rs. 79.16 Crores in Q4 FY 2082/83. Reserves increased by 20.60% to Rs. 17.77 Arba.

Customer deposits grew 10.45% to Rs. 4.02 Kharba, while loans and advances increased 4.07% to Rs. 2.70 Kharba from Rs. 2.60 Kharba a year earlier.

Net interest income rose 3.37% to Rs. 12.01 Arba. Meanwhile, impairment charges shifted from a positive Rs. 3.45 Arba to a negative Rs. 1.43 Arba, representing a decline of 141.72%. Operating profit surged 101.09% to Rs. 11.23 Arba, compared to Rs. 5.58 Arba in the previous fiscal year.

Kumari Bank’s capital adequacy ratio improved to 9.92% from 8.51%, indicating an improvement in its capital position. However, the bank’s NPL ratio increased slightly to 7.46% from 6.95%, pointing to higher non-performing assets.

The cost of funds declined significantly by 22.57% to 3.67%, compared to 4.74% in the previous year.

The bank’s EPS jumped to Rs. 28.17 from Rs. 6.94, while net worth per share increased 20.68% to Rs. 170.80. At the end of the quarter, the bank’s P/E ratio stood at 7.46 times, with its market price recorded at Rs. 210 per share.

Report:

Major Financial Highlights:

Particulars (In Rs '000) Kumari Bank Limited
Q4 2082/83 Q4 2081/82 Difference
Paid Up Capital 26,225,861.34 26,225,861.34 0.00%
Share Premium 0.00 0.00  
Retained Earnings 791,661.68 -3,849,526.72 -120.57%
Reserves 17,776,548.14 14,740,492.12 20.60%
Deposit 402,736,207.79 364,639,161.51 10.45%
Loans & Advances  270,922,251.96 260,322,398.32 4.07%
Net Interest Income 12,013,083.60 11,621,545.97 3.37%
Personnel Expenses 4,892,098.68 4,311,039.37 13.48%
Impairment Charges -1,439,965.06 3,451,421.34 -141.72%
Operating Profit 11,235,525.92 5,587,195.54 101.09%
Net Profit 7,387,197.91 1,819,698.65 305.96%
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments  791,661.68 -3,849,526.72 -
Capital Adequacy (%) 9.92 8.51 16.57%
NPL (%) 7.46 6.95  
Cost of Fund (%) 3.67 4.74 -22.57%
EPS  (In Rs.) 28.17 6.94 305.96%
Net Worth per Share (In Rs.) 170.80 141.53 20.68%
Qtr end PE Ratio (times) 7.46 - -
Qtr End Market Price 210 - -