Net profit of Deva Bikas & Bagmati Dev. Bank drops by 56.44% & 20.92% respectively

Deva Bikas Bank Limited (DEVA) net profit dwindled by 56.44% for the second quarter of the fiscal year 2072/73. Publicizing the unaudited financial report , the bank has stated that it has earned net profit of Rs 5.63 crore in second quarter. The figure stood at Rs 12.94 crore in the corresponding quarter of the previous fiscal year. The development bank has increased its net interest income to Rs 15.36 crore in Q2 from Rs 9.76 crore of the previous corresponding quarter. DEVA has a paid up capital of Rs 81.80 crore with Rs 26.08 crore in reserve. Likewise it has mobilized Rs 6.80 arba in deposits and extended loan of Rs 5.39 arba. Its NPL has decreased to 4.79% in Q2 from 4.81% in the corresponding quarter of the previous fiscal year. The EPS (annualized) of the development bank stands at Rs 13.78, net worth per share stands at Rs 131.88 with P/E ratio 13.50 times.   Similarly, Bagmati Development Bank Limited (BGDBL) has reported net profit loss of 20.92 percent in the second quarter of the fiscal year 2072/73. According to the unaudited second quarterly report published yesterday, the development bank has stated net profit of Rs 29.29 lakh in the Q2, down from Rs 37.04 lakh in the corresponding quarter of the previous year 2071/72. In the second quarter, Bagmati Development Bank’s net interest income has risen to Rs 1.15 crore, up from Rs 1.05 crore in the corresponding quarter. The paid up capital of the company remains at Rs 5.75 crore in Q2. It also mobilized Rs 59.53 crore in deposit and Rs 36.86 crore in loan in Q2 of FY 2072/73 as compared to Rs 41.55 crore in deposit and Rs 34.28 crore in loan in the corresponding quarter of the previous fiscal year. The development bank’s CD ratio stands at 55.87%. Its EPS stands at Rs 11.72, PE ratio at 62.49 times and its net worth per share is at Rs 142.