Gurkha posts 252% profit rise in Q4, but reserve loss at Rs 1.49 arba, NPL at 84%

ShareSansar, August 11:

Gurkha Development Bank Limited has reported 252 percent net profit rise in the last fiscal year 2070/71. But its reserve still in a staggering red terrain of Rs 1.49 arba and its non-performing loan still stands at 84.05 percent.

According to its unaudited financial report for the fourth quarter of the last fiscal year, the crisis-ridden Gurkha’s net profit has risen to 18.07 crore, up from Rs 5.12 crore at the end of the previous fiscal year 2069/70.

Its net interest income has also surged to Rs 8.60 crore by the fourth quarter as compared to net profit loss of Rs 1.15 crore it posted at the corresponding quarter end.

However, both its deposit and loan mobilization has dropped over the year. It mobilized Rs 1.69 arba in deposit and Rs 1.35 arba in loan by the fourth quarter as compared to Rs 1.94 arba in deposit and Rs 1.72 arba in loan at the end of the corresponding quarter.

It has provisioned Rs 10.43 crore for possible loss in the fourth quarter and has managed to write back Rs 29.63 crore from the amount provisioned for possible loss.

Gurkha’s EPS has now stands at Rs 27.36 and net worth per share at minus Rs 126.