NIDC Dev. profits decline to Rs 16.87 crore; write backs Rs 12.11 crore

ShareSansar, November 20:

Publishing the unaudited financial quarterly report today, NIDC Development Bank Limited (NIDC) stated that it’s earned Rs 16.87 crore, down from Rs 22.70 crore in the corresponding period of the previous fiscal year 2070/71.

Net interest income of the bank increased to Rs 10.74 crore, up from Rs 6.22 crore in the previous year.

The bank able to collect Rs 1.35 arba in deposits and extended a total loans of Rs 1.58 arba in this fiscal year compared to Rs 1.26 arba deposits and Rs 1.59 arba loan in the previous fiscal year.

The bank managed to write back Rs 12.11 crore from the amount earlier provisioned for the possible loss. It has also provisioned Rs 1.65 crore for the possible losses during the published period.

There is a marginal decrease in the Non-performing loan (NPL) of the bank. It comes down to 23.05 percent from 24.11 percent in the previous year.  This figure indicates higher percentage of bank loan is in danger zone.

NIDC Dev. annualized EPS is at Rs 162.28, while its P/E ratio stands at 2.59 times and its net worth per share at Rs 680.64.

 For Financial Report: CLICK HERE