Miteri Development Bank reports net profit of Rs 8.35 crore till Q2 of 2076/77; Annualized EPS at Rs 28.55

Sun, Jan 26, 2020 11:29 AM on Financial Analysis, Latest, Stock Market,
Miteri Dev...

Miteri Development Bank Limited (MDB) has reported an increase in net profit in the second quarter of the current fiscal year 2076/77.

The development bank has stated that its net profit increased to Rs.8.35 Crore in Q2 from Rs.6.69 Crore reported in the corresponding quarter of the previous fiscal year 2075/76.

It has collected deposits of Rs.4.94 Arba and floated loans of Rs.4.24 Arba in Q2 of current fiscal year. It’s paid up capital stands at Rs.58.50 Crore and has reserve of Rs.16.94 Crore.

Its annualized Earning Per Share (EPS) now stands at Rs.28.55, net worth per share at Rs.158.23 and P/E ratio at 10.12 times.

Announcement

Major highlights

MDB 
Particulars (in '000)  Q2 2076/77   Q1 2076/77  Difference
Paid-up capital                      585,000                      585,000  
Reserves and surplus                      169,400                      142,372 19.0%
Retained earnings                      171,228                      115,090 48.8%
Deposits from customers                  4,949,616                  4,717,315 4.9%
Loans and advances to customers                  4,242,791                  4,037,915 5.1%
   Q2 2076/77   Q2 2075/76   
Net interest income                      134,428                      128,543 4.6%
Personnel expenses                        43,355                        34,720 24.9%
Impairment charge/ (Reversal) for loans and other losses                           5,272                           9,252 -43.0%
Profit for the period                        83,503                        66,910 24.8%
CAR (%)                           20.48                           18.80 8.9%
NPL (%)                             0.30                             0.43 -30.2%
Cost of funds (%)                             9.19                             9.46 -2.9%
Base rate (%)                           11.74                           12.34 -4.9%
Annualized EPS                           28.55    
Net worth per share                        158.23    
P/E ratio                           10.12