Kasthamandap Dev Bank net profit surges by whopping 290.28% in Q3;Write back increased to Rs 16.52 crore; NPL lowered to 2.60%

Kasthamandap Development Bank Limited (KDBL) has reported a massive profit rise of 290.28 percent for the third quarter of the fiscal year 2072/73. Publishing the unaudited quarterly report today, the development bank has stated that its net profit increased to Rs 19.31 crore in the third quarter, up from Rs 4.94 crore in the corresponding quarter of the previous fiscal year 2071/72. In Q3, the development bank’s net interest income increased to Rs 18.28 crore from Rs 14.30 crore in the corresponding quarter of the previous fiscal year. The development bank collected Rs 6.40 arba in deposit and extended Rs 5.26  arba  in loan and advances  as compared to Rs 4.74 arba in deposits and Rs 3.55 arba  in loan and advances in the corresponding quarter previous year. The bank has managed to write back Rs 16.52  crore in Q3 . The NPL of the bank dropped to 2.60% from 8.58% as compared to corresponding quarter of last fiscal year. It’s EPS stands at Rs 28.41, net worth per share at Rs .116.55 and PE ratio at 8.97 times.