Growth in Core Business and Other Operating Income results outstanding 76.98% growth in Net Profit of Mahalaxmi Bikas Bank in Q3
Tue, Apr 19, 2022 5:24 AM on Financial Analysis, Latest,
Mahalaxmi Bikas Bank Limited (MLBL) has published its third-quarter report for the FY 2078/79 with a rise in net profit by 76.98%.
The bank’s profit has increased from Rs 40.36 crore in the third quarter of the fiscal year 2077/78 to Rs 69.57 crore in the third quarter of the fiscal year 2078/79. In the same quarter, the bank has Rs 45.83 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposits from customers have a growth rate of 8.21% (Compared to the immediate Previous Year Ending) to Rs 41.77 arba and loans and advances to customers have increased by 26.51% (Compared to the immediate Previous Year Ending) to Rs 38.08 arba till the third quarter.
The net interest income of the bank has increased by 15.64% to Rs 1.34 arba from Rs 1.16 arba in the corresponding quarter. Despite low growth in core business revenue, the net profit increased by 76.98% because the company had higher other operating income compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs 4.01 arba with Rs 2.24 arba as its reserve and surplus.
The Non-Performing Loan (NPL) has decreased to 2.89% from 4.44%.
The EPS (annualized) of the bank stands at Rs 23.74. The net worth per share stands at Rs 156.4. The company traded at a P/E ratio of 17.27 times.
* Q3 2077/78 Figures are from Immediate Previous Year Ending
Financial Highlights:
| Particulars (In Rs '000") | Mahalaxmi Bikas Bank | ||
|---|---|---|---|
| Q3 2078/79 | Q3 2077/78 | Difference | |
| Share Capital* | 4,010,883 | 3,342,403 | 20.00% |
| Share Premium* | 0 | 0 | |
| Retained Earnings* | 487,937 | 567,638 | -14.04% |
| Reserves* | 1,759,611 | 1,596,502 | 10.22% |
| Deposits from Customers* | 41,779,591 | 38,609,250 | 8.21% |
| Loans & Advances to customers* | 38,086,853 | 30,106,374 | 26.51% |
| Net Interest Income | 1,349,850 | 1,167,299 | 15.64% |
| Impairment Charge/(Reversal) | 1,580 | 273,248 | -99.42% |
| Personnel Expenses | 456,579 | 363,198 | 25.71% |
| Operating Profit | 1,009,818 | 560,242 | 80.25% |
| Profit/(Loss) for the Year | 714,285 | 403,605 | 76.98% |
| Total Comprehensive Income | 695,787 | 403,605 | 72.39% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 458,305 | ||
| Capital Adequacy Ratio (CAR) | 12.46 | 13.03 | -4.37% |
| NPL | 2.89 | 4.44 | -34.91% |
| Credit to Deposit Ratio (CD Ratio) | 89.98 | 91.98 | -2.17% |
| Cost of Fund (%) | 8.2 | 5.61 | 46.17% |
| Interest Rate Spread (%) | 4.11 | 4.8 | -14.38% |
| Base Rate (%) | 10.25 | 7.98 | 28.45% |
| EPS (In Rs.) | 23.74 | 16.10 | 47.48% |
| Net Worth per Share (In Rs.) | 156.04 | 164.75 | -5.29% |
| Qtr End PE Ratio (times) | 17.27 | - | - |
| Qtr End Market Price | 410 | - | - |
