Araniko Development net profit increased by 86.21% in Q4; EPS at Rs 22.68  

Araniko Development Bank Limited (ARDBL) has reported a profit rise of 86.21 % in the fourth quarter of the last fiscal year 2072/73. According to the unaudited quarterly report for the fourth quarter today, the development bank has stated that it accumulated net profit of Rs 5.84 crore in the fourth quarter, up from 3.13 crore in the corresponding quarter of the fiscal year 2071/72. In the fourth quarter, the bank’s net interest income has risen to Rs 10.04 crore, up from Rs 8.49 crore in the corresponding quarter. It also mobilized Rs 2.01 arba in deposits and extended Rs 1.76 arba in loans as compared to Rs 1.61arba in deposits and Rs 1.26 arba in loans reported in the corresponding quarter of fiscal year 2071/72 respectively. The development bank has managed to write back of provision for possible losses has increased to Rs 3.79 crore from Rs 1.80 crore in Q4. The development bank’s non-performing loan decreased to 0.98% from 2.22 % in the Q4 of 2072/73. Its CD ratio stands at 75.49%. Its EPS (annualized) now stands at Rs 22.68; P/E ratio at 16.76 times and its net worth per share is priced at Rs 134.03.