Kanchan development bank's profit surged by 68.69%; Net worth per share and EPS stands at Rs 118 and Rs 13.59 respectively
Sun, Feb 10, 2019 10:05 AM on Financial Analysis, Latest, Stock Market,
Kanchan Development Bank Limited ( KADBL ) has published a Q2 report of the fiscal year 2075/76. The bank has reported a profit of Rs 3.61 crore in Q2 2075/76. The net profit of the company has increased massively by 68.69% compared to Rs 2.14 crore in the Q2 2074/75.
The development bank has collected deposits of Rs 4.64 arba and has floated loans of Rs 4.12 arba in the Q2 2075/76. Deposits and Loan & advances of the company have grown by 40.79% and 42.41% respectively, compared to the corresponding quarter of the last fiscal year.
The net interest income of the company has increased by 36.49%, from Rs 8.14 crore to Rs 11.11 crore in Q2 2075/76.
Similarly, an operating profit has decreased by -5.3% to Rs 3.0 crore in Q2 2075/76. The development bank is able to hike its profit with the write-back of provision for possible losses of Rs 2.6 crore which was a mere Rs 6.92 lakhs in the corresponding quarter of last fiscal year.
The development bank's' Paid-Up stand at Rs 53.13 crore with reserved of Rs 9.97 crore. The bank's NPL has decreased massively by -60.29% to 0.83% in Q2 2075/76.
The EPS and net worth of share stand at Rs 13.59 and Rs 118.77 in Q2 2075/76 respectively. The company has reported a P/E ratio of 12.73 times in Q2 2075/76.
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Major Highlights of Q2 of 75/76;
| Particulars (In Rs '000) | KADBL | ||
|---|---|---|---|
| Q2 2075/76 | Q2 2074/75 | Difference | |
| Paid Up Capital | 531,300 | 450,450 | 17.95% |
| Reserve & Surplus | 99,740 | 130,505 | -23.57% |
| Deposits | 4,648,537 | 3,264,164 | 42.41% |
| Borrowings | 0 | ||
| Loans & Advances | 4,123,990 | 2,929,179 | 40.79% |
| Net Interest Income | 111,093 | 81,390 | 36.49% |
| Provision for possible losses | 42,945 | 20,647 | 108.00% |
| Operating Profit | 29,963 | 31,641 | -5.30% |
| Net Profit | 36,113 | 21,408 | 68.69% |
| NPL to total loan (%) | 0.83 | 2.09 | -60.29% |
| Annualized EPS (In Rs.) | 13.59 | 9.51 | 43.02% |
| Net Worth per Share (In Rs.) | 118.77 | 128.97 | -7.91% |
| P/E Ratio (In times) | 12.73 |
