Jyoti Bikas Bank Reports 24.40% Decrease in Net Profit and Decline in EPS for Q3 FY 2080/81
Wed, Apr 17, 2024 10:10 AM on Financial Analysis, Company Analysis, Latest,
Jyoti Bikas Bank Limited (JBBL) has released its unaudited financial report for the third quarter of the fiscal year 2080/81, showing a notable decrease in both net profit and Earnings Per Share (EPS).
During this period, the bank's net profit dropped to Rs. 15.24 Crores, marking a decline of 24.40% compared to the same quarter last fiscal year when it was Rs. 20.16 Crores. However, the bank saw an increase in net interest income, which reached Rs. 1.07 Arba.
While personnel expenses decreased by 2.64%, there was a significant rise of 16.19% in impairment charges, leading to a 23.31% decrease in operating profit.
The bank's EPS also showed a downward trend, with the annualized EPS at Rs. 4.62 for the review period. Currently, the bank's price-earnings (P/E) ratio stands at 63.59 times, and the net worth per share is reported at Rs. 134.20.
* Figure is of Immediate Fiscal year ending
| Particulars (In Rs '000) | Jyoti Bikas Bank Limited | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 4,395,785.89 | 4,395,785.89* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | -286,658.47 | 2,947.92* | - |
| Reserves | 1,790,039.59 | 1,383,335.58* | 29.40% |
| Deposits | 63,425,432.13 | 61,284,476.38* | 3.49% |
| Loans & Advances | 50,731,389.26 | 50,964,242.66* | -0.46% |
| Net Interest Income | 1,706,859.27 | 1,677,505.36 | 1.75% |
| Personnel Expenses | 483,585.15 | 496,700.69 | -2.64% |
| Impairment Charges/(Reversal) for loans and advances | 830,279.01 | 714,570.41 | 16.19% |
| Operating Profit | 220,769.59 | 287,886.01 | -23.31% |
| Net Profit | 152,433.42 | 201,618.53 | -24.40% |
| Capital Adequacy (%) | 12.40 | 12.54 | -1.12% |
| NPL (%) | 4.97 | 3.89 | 27.76% |
| Cost of Fund (%) | 7.53 | 10.03 | -24.93% |
| Annualized EPS (In Rs.) | 4.62 | 6.12 | -24.40% |
| Net Worth per Share (In Rs.) | 134.20 | 131.54 | 2.03% |
| Qtr End Market Price | 294 | - | - |
| Qtr end PE Ratio (times) | 63.59 | ||
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