Net profit of Western Dev. down by 9.05% & Kailash Bikas rises by 22.81%

Western Development Bank Limited has posted 9.05 % decline in net profit for the second quarter of the current fiscal year 2072/73. Publishing the unaudited financial report for the second quarter, the development bank has stated that its net profit declined to Rs 1.36crore, down from Rs 1.50 crore in the corresponding quarter of the last fiscal year 2071/72. The development bank has Rs 44.42 Lakhs under provision for possible losses while there was no amount under such provision in the corresponding quarter of last fiscal year. The bank has collected deposits of Rs1.85arba in the second quarter compared to Rs1.42 arba in the corresponding quarter last year. Likewise, it extended loans of Rs1.16arba, up from Rs97.55 crore in the corresponding quarter last year. Western’s net interest income has slightly risen from Rs2.04 crore in the corresponding quarter last year to Rs2.37crore in the second quarter of 2072/73. It posted an operating profit of Rs2.14 crore. The bank’s NPL has dropped from 1.58% in the corresponding quarter of the last fiscal to 0.58% this year. Its Earning per Share (annualized) now stands at Rs 8.72, net worth per share at Rs 115.57, and CD ratio at 57.35%. Kailash Bikas Bank Limited has reported 22.81% rise in profit for the second quarter of the current fiscal year 2072/73. According to unaudited financial statement published today, its net profit has mounted to Rs13.66 crore, up from Rs 11.12 crore in the corresponding quarter of the previous fiscal year. The bank has collected Rs9.85arba in deposits and its loan and advances stood at Rs 8.50 arba. The development bank’s net interest income is at Rs 22.95 crore. Its nonperforming loan has also minimized to 1.59 % from 2.80 % of the corresponding quarter last fiscal year and CD ratio stands at 76.66%. Its annualized EPS stands at Rs 24.62and its net worth per share is at Rs 137.01 and P/E ratio at 13.40 times .