Janata Bank Nepal published an impressive Q2 result; profit rises by 90.26% and EPS stands at Rs 15.87

Thu, Feb 7, 2019 7:58 AM on Financial Analysis, Latest, Stock Market,
Janata Ban...

Janata Bank Nepal Limited (JBNL) has reported an outstanding rise in the net profit in the second quarter of the fiscal year 2075/76. The net profit has increased by 90.50% in the second quarter.

The bank’s profit has increased from Rs 33.35 crore in the second quarter of the fiscal year 2074/75 to Rs 63.46 crore in the second quarter of the fiscal year 2075/76. In the second quarter of the FY 2075/76, the bank has Rs 53.04 crore as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders after maintaining the mandatory reserve as per NRB directives.

The bank’s deposit has growth rate of 29.61% to Rs 68.43 arba and loans and advances have also increased by 31.87% to Rs 63.65 arba in the second quarter.

The net interest income of the bank has increased to Rs 1.58 arba from Rs 1.07 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.00 arba with Rs 3.03 arba as its reserve.

The Non-Performing Loan (NPL) has also decreased to 1.53% from 2.65%.

In the second quarter, the EPS of the bank stands at Rs 15.87. The net worth per share stands at Rs 137.98.

JBNL’s stock is traded at PE of 10.65 which is below industry average whereas PE was 22.66 times in corresponding quarter.

Major Highlights:

Particulars (In Rs '000)

Janata Bank Limited

Q2 2075/76

Q2 2074/75

Difference

Paid Up Capital

8,000,786

8,000,786

0.00%

Reserve & Surplus

3,038,676

1,128,737

169.21%

Deposits

68,438,423

52,801,374

29.61%

Borrowings

1,446,273

427,706

238.15%

Loans & Advances

63,651,032

48,266,559

31.87%

Net Interest Income

1,582,178

1,070,025

47.86%

Impairment Charge/(Reversal)

-234,576

-222,010

-

Operating Profit

906,705

476,569

90.26%

Profit/(Loss) for the Year

634,693

333,598

90.26%

Total Comprehensive Income

635,496

333,598

90.50%

Add/ Less: Regulatory adjustment as per NRB

-104,277

-61,859

-

Free Profit/ (Loss) after Regulatory Adjustments

530,417

271,739

95.19%

Capital Adequacy Ratio (CAR)

13.68

16.87

-18.91%

NPL

1.53

2.65

-42.26%

CCD (as per NRB Directives)

78.98

78.14

1.07%

Base Rate (%)

11.04

11.35

-2.73%

Annualized EPS (In Rs.)

15.87

8.34

90.26%

Net Worth per Share (In Rs.)

137.98

114.11

20.92%

PE Ratio

10.65

22.66

-53.00%