Kanchan Development Bank reports net profit of Rs 9.68 crore for Q4 of 2075/76; Bank's provision for possible losses increases by a staggering 76%

Sun, Aug 18, 2019 1:24 PM on Financial Analysis, Latest,
Kanchan De...

Kanchan Development Bank Limited ( KADBL) has published its Q4 report for the fiscal year 2075/76. The bank has reported a profit of Rs 9.68 crore in Q4 2075/76. The net profit of the company has increased by 25% compared to Rs 7.74 crore in the Q4 2074/75.

The development bank has collected deposits of Rs 5.92 arba and has floated loans of Rs 4.76 arba in the Q4 2075/76. Deposits and Loan & advances of the company have grown by 47% and 42% respectively, compared to the corresponding quarter of the last fiscal year.

The net interest income of the company has increased by 31%, from Rs 18.77 crore to Rs 24.75 crore in Q4 2075/76.

Similarly, the operating profit has increased by 14% to Rs 10.01 crore in Q4 2075/76.

The development bank's paid-up capital stands at Rs 53.13 crore with reserves of Rs 15.87 crore. The bank's NPL has decreased by 26% from 0.65 percent to 0.48 percent in Q4 2075/76.

The EPS and net worth of share stand at Rs 18.22 and Rs 129.89 in Q4 2075/76 respectively. The company has reported a P/E ratio of 10.54 times in Q4 2075/76.

Q4 report

Major highlights

Particulars (In Rs '000) KADBL
Q4 2075/76 Q4 2074/75 Difference
Paid Up Capital 531,300.00 506,000.00 5.00%
Reserve & Surplus 158,797.53 126,321.51 25.71%
Deposits 5,922,889.69 4,002,194.49 47.99%
Borrowings 0.00 0  
Loans & Advances 4,767,426.36 3,351,606.52 42.24%
Net Interest Income 247,523.27 187,736.57 31.85%
Provision for possible losses 60,941.60 34,459.03 76.85%
Operating Profit 100,140.24 87,609.50 14.30%
Net Profit 96,812.59 77,430.91 25.03%
Capital Adequacy (%) 12.23 15.69 -22.05%
NPL (%) 0.48 0.65 -26.15%
CCD Ratio (%) 72.6 72.38 0.30%
Cost of Fund (%) 8.1 8.42 -3.80%
Annualized EPS (In Rs.) 18.22    
Net Worth per Share (In Rs.) 129.89    
PE Ratio (times) 10.54