Bhaktapur Finance reports 277% rise in net profit; NPL down to 4.42%

Wed, Feb 1, 2017 11:30 AM on Latest, Financial Analysis, Featured, Stock Market,
Bhaktapur Finance Company Limited (BFCL) has registered a net profit rise of 277.87% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the finance today, its net profit has increased to Rs. 1.04 crore in second quarter, up from Rs. 27.63 lakh in the corresponding quarter of the previous fiscal year. BFCL’s net interest income has risen to Rs 2.14 crore in Q2 as compared to Rs. 1.07 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 21.83 crore with a reserve of Rs 1.62 crore. The bank also collected deposits of Rs 43.09 crore in Q2, down from Rs 46.22 arba crore in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 50.27 crore in Q2 whereas in the same period last year, the figure stood at Rs. 35.81 crore. The credit-deposit ratio of this finance company stands at 74.96%. BFCL’s annualized Earnings per Share (EPS) has increased to Rs 9.56 per share. The transaction of this company is currently in halt, due to its ongoing merger with Central Finance. The swap ratio for merger has been fixed at 1:1. Major Highlights:
Indicators (Rs in "000") FY 2073/74 Q2 FY 2072/73 Q2 Difference (%)
Paid Up Capital        218,385.00        200,000.00 9.19%
Reserve and Surplus          16,211.98          18,177.77 -10.81%
Deposits        430,947.44        462,249.52 -6.77%
Loans and Advances        502,753.75        358,165.58 40.37%
Net Interest Income          21,403.11          10,713.58 99.78%
Provision             1,844.57             4,300.30 -57.11%
Write Back             1,428.13             1,750.00 -18.39%
Operating Profit          14,984.09             2,593.32 477.80%
Net Profit          10,444.14             2,763.93 277.87%
Capital Adequacy Ratio 38.64% 45.70% -
NPL 4.42% 5.49% -19.49%
Base Rate 7.92% 8.76% -
Cost of Fund 5.47% 4.89%
CD Ratio (as per NRB) 74.96% 52.64% -
EPS (Annualized) 9.56 2.76 246.06%
Networth Per Share 107.42 109.09