NIDC Development Bank Limited (NIDC) has posted massive decrease in profit of 42.06 percent for the fiscal year 2074/75.
According to the unaudited financial report published by the bank today, its net profit has decreased to Rs 7.78 crore in the second quarter from Rs 13.43 crore in the corresponding quarter of the previous fiscal year 2073/74.
However, NIDC’s net interest income has increased to Rs 13.88 crore in Q2 from Rs 12.98 crore in the corresponding quarter of the previous fiscal year.
The bank collected Rs 1.07 arba in Q2 down from Rs 1.42 arba in the corresponding period last year as deposits.
Likewise, it has extended loans and advances of Rs 2.89 arba in Q2 whereas in the same period last year the figure stood at Rs 2.56 arba.
Its non-performing loan has increased to 9.36 percent from 8.97 percent of last year.
NIDC Development Bank’s annualized earning per share (EPS) stands at Rs 37.43, net worth per share at Rs 900.06 and the P/E ratio at Rs 4.01 times.
Its paid-up capital remains at Rs 41.58 crore and has reserve of Rs 3.32 arba. It is currently in merger process with Rastriya Banijya Bank.
Major Highlights:
| Particulars (In Rs '000) |
NIDC |
| Q2 2074/75 |
Q2 2073/74 |
Difference |
| Paid Up Capital |
415,823 |
415,823 |
0.00% |
| Reserve & Surplus |
3,326,820 |
3,142,038 |
5.88% |
| Deposits |
1,078,617 |
1,422,171 |
-24.16% |
| Borrowings |
- |
- |
- |
| Loans & Advances |
2,892,586 |
2,564,485 |
12.79% |
| Net Interest Income |
138,855 |
129,887 |
6.90% |
| Provision for possible losses |
22,480 |
19,424 |
15.73% |
| Operating Profit |
82,134 |
76,190 |
7.80% |
| Net Profit |
77,831 |
134,332 |
-42.06% |
| NPL (%) |
9.36 |
8.97 |
4.35% |
| Annualized EPS (In Rs.) |
37.43 |
64.61 |
-42.06% |
| Net Worth per Share (In Rs.) |
900.06 |
855.62 |
5.19% |
| P/E Ratio (In times) |
4.01 |
- |
- |
Q2 Report
