Muktinath Bikas Bank's shows outstanding performance in Q2, profit rises by more than 50%; P/E ratio stands at 13.32 times
Wed, Jan 30, 2019 11:10 AM on Latest, Stock Market, Financial Analysis,
Muktinath Bikas Bank Limited (MNBBL) has posted massive profit growth of 53.12 percent in the Q2 of the fiscal year 2075/76. The company had consistently reported profit growth of almost 50% in the last couple of quarters comparing to the corresponding quarter of previous fiscal year.
Publishing the unaudited financial report for the second quarter today, the development bank stated that its net profit rose to Rs 40.04 crore in the fiscal year 2075/76, up from Rs 26.43 crore in the corresponding period of the previous fiscal year 2074/75.
Its net interest income has increased by 53.83% to Rs 85.87 crore in this quarter from Rs 55.82 crore in the Q2 of FY 2074/75.
Muktinath Bikas Bank’s paid-up capital stands at Rs 3.06 arba with a reserve of Rs 85.49 crore in Q2 of FY 2075/76. The development bank has collected deposits of Rs 38.13 arba in the second quarter, up from Rs 21.73 arba in the corresponding quarter of 74/75 FY.
Likewise, it has extended loans and advances of Rs 32.97 arba in Q2 of FY 2075/76. Its non-performing loan (NPL) has increased slightly to 0.05% in Q2 from 0.01% in the previous year report, as a result, the provision for possible losses has also increased by 143% from Rs 4.2 crore in the Q2 of last fiscal year to Rs 10.44 crore in this quarter.
| Particulars (In Rs '000) | MNBBL | ||
|---|---|---|---|
| Q2 2075/76 | Q2 2074/75 | Difference | |
| Paid Up Capital | 3,064,760 | 2,591,763 | 18.25% |
| Reserve & Surplus | 854,904 | 641,429 | 33.28% |
| Deposits | 38,138,258 | 21,739,381 | 75.43% |
| Borrowings | 1,220,000 | ||
| Loans & Advances | 32,978,100 | 19,334,908 | 70.56% |
| Net Interest Income | 858,778 | 558,276 | 53.83% |
| Provision for possible losses | 104,434 | 42,937 | 143.23% |
| Operating Profit | 625,514 | 404,614 | 54.60% |
| Net Profit | 404,830 | 264,382 | 53.12% |
| NPL to total loan (%) | 0.05 | 0.01 | 400.00% |
| Annualized EPS (In Rs.) | 26.42 | ||
| Net Worth per Share (In Rs.) | 127.89 | ||
| P/E Ratio (In times) | 13.32 | ||
MNBBL’s annualized earning per share (EPS) stands at Rs 26.42, net worth per share at Rs 127.89 and the P/E ratio at 13.32 times.
The LTP of the MNBBL stands at Rs 346.
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