Muktinath Bikas Bank Limited (MNBBL) has posted impressive profit growth of 35.85 percent in the first quarter (Q1) of the current fiscal year 2074/75.
Publishing the unaudited financial report for the first quarter today, the development bank stated that its net profit rose to Rs 13.54 crore in the current fiscal year 2074/75 up from Rs 9.97 crore in the corresponding period of the previous fiscal year 2073/74.
Its net interest income has risen from Rs 21.26 crore in corresponding quarter to Rs 25.79 crore in the current quarter.
The development bank has collected deposits of Rs 19.54 arba in the first quarter, up from Rs 12.88 arba in the corresponding quarter. Likewise, it has extended loans and advances of Rs 16.80 arba in Q1 whereas in the same period last year the figure stood at Rs 11.44 arba.
Muktinath Bikas Bank’s paid up capital remains at Rs. 2.15 arba (including 40% right shares) with reserve of 90.99 crore in Q1. MNBBL had issued 50% right shares and 34% bonus shares (from net profit of the FY 2072/73). Also recently, the development bank has announced 20% bonus shares to its shareholders from the net profit of FY 2073/74. After 20% bonus distribution, it will reach to Rs 2.58 arba.
Its non-performing loan (NPL) has dropped to 0.03% in Q1 from 0.18% in the previous year report.
MNBBL’s annualized earning per share (EPS) stands at Rs 25.09, net worth per share at Rs 142.13 and the P/E ratio at 24.38 times.
Major Highlights:
| Particulars (In Rs '000) |
Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
2,159,685 |
838,433 |
157.59% |
| Reserve & Surplus |
909,913 |
603,127 |
50.87% |
| Deposits |
19,542,614 |
12,881,759 |
51.71% |
| Borrowings |
- |
- |
#DIV/0! |
| Loans & Advances |
16,807,601 |
11,441,405 |
46.90% |
| Net Interest Income |
257,961 |
212,607 |
21.33% |
| Provision for possible losses |
25,261 |
25,158 |
0.41% |
| Operating Profit |
198,428 |
143,596 |
38.18% |
| Net Profit |
135,447 |
99,706 |
35.85% |
| NPL (%) |
0.03 |
0.18 |
-83.33% |
| Annualized EPS (In Rs.) |
25.09 |
47.57 |
-47.26% |
| Net Worth per Share (In Rs.) |
142.13 |
171.94 |
-17.33% |
| P/E Ratio (In times) |
24.38 |
- |
- |
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