Agricultural Dev. Bank publish an excellent Q2 financials with 22.80% rise in net profit; earns Rs 1.58 arba

Tue, Feb 4, 2020 7:35 AM on Financial Analysis, Stock Market,
Agricultur...

Agricultural Development Bank Limited (ADBL) has posted a 22.80% rise in net profit in the second quarter of the fiscal year 2076/77.

As per the unaudited report, its net profit has increased to Rs 1.58 arba, up from Rs 1.28 arba. ADBL’s operating profit for this quarter stands at Rs 1.98 arba. The operating profit has also increased by 16.08% compared to the same quarter of last fiscal year.

As of the end of Q2, its deposit from customers stands at Rs 1.27 kharba with floated loans of Rs 1.15 kharba. The company's Non-Performing loan has decreased from 4.5% in Q2 of last fiscal year to 3.91% of the current fiscal year.

ADBL’s paid-up capital stands at Rs 14.44 arba which includes Rs 9.55 arba from ordinary shares and Rs 5.43 arba from irredeemable preference share. The reserve & surplus of the company stands at Rs 14.88 arba.

The quarter end P/E ratio of the company is 12.01 times. The company's CCD is 72.12% and its base rate decline to 10.17% from 11.15%.

In the same quarter, the bank has Rs 1.14 arba as distributable profit after Regulatory Adjustments and PL appropriations.

Click here for Q2 report:

Major Highlights:

 * Figure are of Immediate Previous Year Ending (Audited)

 * Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q2 end paid up capital.

*EPS is calculated taking remaining net profit after profit set aside for distributing dividend to irredeemable pref. shares.

Particulars (In Rs '000)

Agricultural Development Bank

Q2 2076/77

Q2 2075/76

Difference

Share Capital*

9,556,460

9,015,529

6.00%

Irredeemable Non-Cumulative Preference Share

5,432,712

5,432,712

0.00%

Total Paid-Up Capital

14,989,172

14,448,241

3.74%

Share Premium*

 

 

 

Retained Earnings*

4,462,833

3,422,038

30.41%

Reserves*

10,418,540

10,482,454

-0.61%

Deposits from Customers*

127,216,793

118,884,923

7.01%

Loans & Advances to customers*

115,360,994

108,806,697

6.02%

Net Interest Income

3,171,603

3,494,958

-9.25%

Fee and Commission Income

847,913

502,050

68.89%

Impairment Charge/(Reversal)

-177,312

-501,238

-

Personnel Expenses

1,517,679

1,514,568

0.21%

Operating Profit

1,984,416

1,709,537

16.08%

Profit/(Loss) for the Year

1,581,727

1,288,048

22.80%

Total Comprehensive Income

1,517,813

1,334,102

13.77%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments

1,148,387

-

-

Capital Adequacy Ratio (CAR)

20.39

18.97

7.49%

NPL

3.91

4.5

-13.11%

CCD (as per NRB Directives)

72.12

78.68

-8.34%

Cost of Fund (%)

7.2

7.23

-0.41%

Base Rate (%)

10.17

11.15

-8.79%

Annualized EPS (In Rs.)

31.47

24.96

26.08%

Qtr End PE Ratio (times)

12.01

-

-

Qtr End Market Price

378

-

-