Nirdhan Utthan profit rises by 24.07% in Q1

In first quarter of the current fiscal year, Nirdhan Utthan Bank Limited (NUBL) has posted a net profit of Rs 7.99 crore. The net profit surged by 24.07% as compared to the corresponding quarter of the last fiscal year. As per the unaudited financial report published today, the bank has reported an operating profit of Rs12.35 crore in Q1. In the corresponding quarter of the previous fiscal year, the bank had posted an operating profit of Rs 10.06 crore. Nirdhan Utthan Bank has a paid up capital of Rs 50 crore in Q1 with reserve and surplus of Rs 35.69 crore. Its NPL dropped to 0.22% from 0.53% in Q1.The bank’s CD ratio stood at 246% down from 259 % as compared to the corresponding quarter of the last fiscal year. NUBL’s EPS stood at Rs 63.97and Net worth remains at Rs 171.39.