NIC Asia shows outstanding performance in Q2 with 164% rise in profit; EPS climbs to Rs 34.22
Wed, Jan 16, 2019 11:54 AM on Financial Analysis, Stock Market,
NIC Asia Bank Limited (NICA) has reported an outstanding rise in the net profit for the second quarter of the fiscal year 2075/76. As per the quarterly report published today, the net profit has increased by 164.19% in the fiscal year.
The bank’s profit has increased from Rs 57.21 crore in the second quarter of the fiscal year 2074/75 to Rs 1.51 arba in the second quarter of the fiscal year 2075/76. In the second quarter of the FY 2075/76, the bank had Rs 1.26 arba as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders.
The bank’s deposit has decent growth rate of 45.90% to Rs 1.75 kharba and loans and advances have also increased by 47.89% to Rs 1.49 kharba in the second quarter.
The net interest income of the bank has increased to Rs 3.60 arba from Rs 1.54 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 8.83 arba with Rs 4.41 arba as its reserve as of the end of Q2 of FY 2075/76.
The Non-Performing Loan (NPL) has slightly increased to 0.30% from 0.26%.
In the second quarter, the EPS of the bank stands at Rs 34.22. The net worth per share stands at Rs 149.93.
Major Highlights:
|
Particulars (In Rs '000) |
NICA |
||
|---|---|---|---|
|
Q2 2075/76 |
Q2 2074/75 |
Difference |
|
|
Paid Up Capital |
8,834,229 |
8,031,117 |
10.00% |
|
Reserve & Surplus |
4,411,258 |
2,655,758 |
66.10% |
|
Deposits |
175,764,356 |
120,467,013 |
45.90% |
|
Borrowings |
10,149,433 |
- |
- |
|
Loans & Advances |
149,303,944 |
100,954,924 |
47.89% |
|
Net Interest Income |
3,607,616 |
1,545,023 |
133.50% |
|
Operating Profit |
2,137,050 |
784,410 |
172.44% |
|
Net Profit |
1,511,459 |
571,794 |
164.34% |
|
Total Comprehensive Income afterShare of NCI |
1,562,801 |
571,794 |
173.32% |
|
Add/ Less: Regulatory adjustment as per NRB |
(251,234) |
- |
- |
|
Free Profit/ (Loss) after Regulatory Adjustments |
1,260,225 |
571,794 |
120.40% |
|
NPL |
0.30 |
0.26 |
15.38% |
|
Annualized EPS (In Rs.) |
34.22 |
14.24 |
140.31% |
|
Net Worth per Share (In Rs.) |
149.93 |
133.07 |
12.67% |
|
P/E Ratio (In times) |
11.25 |
- |
- |
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