Mahalaxmi Bikas Bank reports 158% rise in net profit; EPS at Rs 22.26

Mahalaxmi Bikas Bank Limited (MLBL) has registered a net profit growth of 158.20% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the development bank today, its net profit has increased to Rs 12.87 crore in second quarter, up from Rs 4.98 crore in the corresponding quarter of the previous fiscal year. MLBL’s net interest income has risen to Rs 30.98 crore in Q2 as compared to Rs. 8.90 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 1.15 arba with a reserve of Rs 70.27 crore. The bank also collected deposits of Rs. 11.78 arba in Q2, up from Rs 3.58 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 9.88 arba in Q2 whereas in the same period last year, the figure stood at Rs. 2.80 arba. MLBL’s annualized Earnings per Share (EPS) has increased to Rs 22.26 per share. It is a national level development bank and needs to meet the capital of Rs. 2.50 arba by the end of this fiscal year. It will further need to increase its capital by 117%. Its trading was recently resumed after merger with Siddhartha Finance, Malika Bikas Bank and Mahalaxmi Finance.