Kanchan Development Bank reports 38% rise in net profit for Q3 of FY 2075/76; Operating profit falls by 5%
Mon, May 13, 2019 1:48 PM on Financial Analysis, Latest, Stock Market,
Kanchan Development Bank Limited ( KADBL ) has published its Q3 report for the fiscal year 2075/76. The bank has reported a profit of Rs 5.52 crore in Q3 2075/76. The net profit of the company has increased by 38% compared to Rs 3.98 crore in the Q3 2074/75.
The development bank has collected deposits of Rs 5 arba and has floated loans of Rs 4.47 arba in the Q3 2075/76. Deposits and Loan & advances of the company have grown by 48% and 47% respectively, compared to the corresponding quarter of the last fiscal year.
The net interest income of the company has increased by 33%, from Rs 12.7 crore to Rs 17 crore in Q3 2075/76.
Similarly, the operating profit has decreased by 5% to Rs 5.5 crore in Q3 2075/76. The development bank is able to hike its profit with the write-back of provision for possible losses of Rs 5.52 crore which was a mere Rs 3.98 crore in the corresponding quarter of last fiscal year.
The development bank's paid-up capital stands at Rs 53.13 crore with reserves of Rs 11.7 crore. The bank's NPL has decreased by 29% from 2.61 percent to 1.83 percent in Q3 2075/76.
The EPS and net worth of share stand at Rs 13.86 and Rs 122.06 in Q3 2075/76 respectively. The company has reported a P/E ratio of 11.47 times in Q3 2075/76.
Major Highlights of Q2 of 75/76
Particulars (In Rs '000) | KADBL | ||
---|---|---|---|
Q3 2075/76 | Q3 2074/75 | Difference | |
Paid Up Capital | 531,300 | 506,000 | 5.00% |
Reserve & Surplus | 117,216 | 88,777 | 32.03% |
Deposits | 5,086,626 | 3,435,414 | 48.06% |
Borrowings | - | - | - |
Loans & Advances | 4,473,147 | 3,036,636 | 47.31% |
Net Interest Income | 170,912 | 127,698 | 33.84% |
Provision for possible losses | 64,154 | 23,547 | 172.45% |
Operating Profit | 55,019 | 57,966 | -5.09% |
Net Profit | 55,231 | 39,886 | 38.47% |
NPL to total loan (%) | 1.83 | 2.61 | -29.89% |
Annualized EPS (In Rs.) | 13.86 | ||
Net Worth per Share (In Rs.) | 122.06 | ||
P/E Ratio (In times) | 11.47 |