NIC Asia profit decline in Q2; earns Rs 36.06 crore & Provisioned Rs 17.68 crore

ShareSansar, January 30:

NIC Asia Bank Limited (NICA) net profits decline by 6.42 percent during the second quarter of the current fiscal year 2071/72.

NIC Asia has reported a decline in net profit to Rs 36.06 from Rs 38.53 compared to the corresponding quarter of last fiscal year 2070/71.

NIC Asia Bank core business activities decline which results decline in net interest income to Rs 8.15 crore from Rs 85.67 compared to the corresponding quarter of last fiscal year 2070/71.

The company’s has provisioned Rs 17.68 crore for possible losses whereas the same time bank’s has write back Rs 8.57 crore from the provisioned account.

NIC Asia mobilized Rs 48.09 arba in deposit and Rs 39.40 arba in loan as compared to just Rs 38.44 arba in deposit and Rs 31.83 arba in loan by the end of the second quarter of the last fiscal.

NIC Asia’s non-performing loan has, however, decreased to 2.41 percent, down from 2.96 percent in the corresponding quarter.

NIC's annualized EPS stands at Rs 27.13, its net worth per share is now priced at Rs 196.88, and P/E ratio stands at 24.58.