Mahalaxmi Bikas Bank Q3: net profit remain stagnant, deposits and loans both decline and NPL rises to 4.44%
Tue, Apr 20, 2021 5:20 AM on Financial Analysis, Latest,
Mahalaxmi Bikas Bank Limited (MLBL) has published its third-quarter report for the FY 2077/78 with a meager rise in net profit by 1.57%.
The development bank’s profit has increased from Rs 39.73 crore in the third quarter of the fiscal year 2076/77 to Rs 40.36 crore in the third quarter of the fiscal year 2077/78. In the same quarter, the bank has Rs 25.76 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has declined by 1.38% (compared to the immediate previous year ending) to Rs 36.46 arba and loans and advances to customers also has declined by 1.14% (compared to the immediate previous year ending) to Rs 29.10 arba in the third quarter. The bank's net interest income (core revenue) has decreased by 2.64% to Rs 1.16 arba from Rs 1.19 arba of the corresponding quarter.
The banks have earned Rs 1.80 crore as non-operating income.
The bank’s paid-up capital stands at Rs 3.34 arba with Rs 1.83 arba as its reserve and surplus.
The Non-Performing Loan (NPL) has increased to 4.44% from 3.78%.
In the third quarter, the annualized EPS of the bank stands at Rs 16.10. The net worth per share stands at Rs 154.90 and the qtr end PE ratio stands at 19.25 times.
Financial Highlights:
* Figure is of Immediate Previous Year Ending
| Particulars (In Rs '000") | Mahalaxmi Bikas Bank | ||
|---|---|---|---|
| Q3 2077/78 | Q3 2076/77 | Difference | |
| Share Capital* | 3,342,403 | 3,072,061 | 8.80% |
| Share Premium* | 0 | 0 | |
| Retained Earnings* | 261,445 | 288,352 | -9.33% |
| Reserves* | 1,573,385 | 1,427,442 | 10.22% |
| Deposits from Customers* | 36,467,759 | 36,977,169 | -1.38% |
| Loans & Advances to customers* | 29,101,939 | 29,438,119 | -1.14% |
| Net Interest Income | 1,167,299 | 1,198,944 | -2.64% |
| Impairment Charge/(Reversal) | 273,248 | 181,819 | 0.00% |
| Personnel Expenses | 363,198 | 395,543 | -8.18% |
| Operating Profit | 560,242 | 563,877 | -0.64% |
| Non_Operating Income | 18,085 | 2,300 | 686.29% |
| Profit/(Loss) for the Year | 403,605 | 397,365 | 1.57% |
| Total Comprehensive Income | 403,605 | 397,365 | 1.57% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 257,662 | ||
| Capital Adequacy Ratio (CAR) | 13.03 | 11.77 | 10.71% |
| NPL | 4.44 | 3.78 | 17.46% |
| CCD (as per NRB Directives) | 81.3 | 74.37 | 9.32% |
| Cost of Fund (%) | 5.61 | 8.31 | -32.49% |
| Interest Rate Spread (%) | 4.8 | 5.37 | -10.61% |
| Base Rate (%) | 7.98 | 11.04 | -27.72% |
| Annualized EPS (In Rs.) | 16.10 | 17.25 | -6.64% |
| Net Worth per Share (In Rs.) | 154.90 | 155.85 | -0.61% |
| Qtr End PE Ratio (times) | 19.25 | - | - |
| Qtr End Market Price | 310 | - | - |
