Jyoti Bikas Bank reports more than 60% increase in profits; EPS and net worth per share at Rs.16.07 and Rs.122.39 respectively

Jyoti Bikas Bank Limited (JBBL)'s net profit increased by 64.76 percent in the second quarter of the fiscal year 2076/77.

As per the unaudited financial report for the second quarter published, the development bank has stated that its net profit has risen from Rs.17.04 Crore in the corresponding quarter to Rs.28.08 Crore till Q2 of the current fiscal year.

Its net interest income increased to Rs.73.69 Crore till Q2 from Rs.46.66 Crore in the corresponding quarter previous year. The bank has collected deposits of Rs.29.68 Arba while it has mobilized loans and advances of Rs.26.84 Arba till Q2. The deposit and loan amount stood at Rs.25.99 Arba and Rs.24.77 Arba respectively in the previous year end i.e. Q4 of 2075/76.

Jyoti Bikas Bank has a paid-up capital of Rs.3.49 Arba and reserve of Rs.55.54 Crore.

Its non-performing loan (NPL) has increased to 0.80% in Q2 2076/77.

The Earnings per Share (annualized) increased to Rs.16.07 and net worth per share stands at Rs.122.39. Its P/E ratio stands at 10.02 times.