Nirdhan Uttam’s net profit more than doubles in Q3

ShareSansar, May 6:

Nirdhan Uttan Bank Limited has posted a massive profit rise of  112.4 percent the third quarter of the current fiscal year 2070/71.

Publishing the unaudited financial report for the third quarter today, the microfinance institution stated that its net profit has surged to Rs 12.83 crore up from just Rs 6.04 crore in the corresponding quarter of the last fiscal year 2069/70.

The profit was triggered by the company’s core business as its net interest income rose to Rs 38.78 crore by the end of the third quarter up from Rs 25.07 crore.

Nirdhan Uttan mobilized Rs 1.67 arba in deposit and Rs 4.38 arba in loan as compared to Rs 1.67 arba in deposit and Rs 1.17 arba in loan previous year quarter ending.

Another encouraging thing about Nirdhan Uttan’s balance sheet is that its non-performing loan has dropped from 1.08 percent to 0.70 percent.

Its EPS now stands at 71.29 and its net worth per share stands at 207.84.