Nirdhan Utthan reports 113% growth in net profit to Rs 30.13 crore; astounding EPS of Rs 100.44

Nirdhan Utthan Bank Limited (NUBL) has registered a net profit growth of 113.24% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the microfinance today, its net profit has increased to Rs. 30.13 crore in second quarter, up from Rs.14.13 crore in the corresponding quarter of the previous fiscal year. NUBL’s net interest income has risen to Rs 73.14 crore in Q2 as compared to Rs. 48.95 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 60 crore with a reserve of Rs 79.91 crore. The bank also collected deposits of Rs 5.22 arba whereas borrowed 6.70 arba in Q2. Likewise, it has extended loans and advances of Rs 11.54 arba in Q2 whereas in the same period last year, the figure stood at Rs 7.87 arba. NUBL’s annualized Earnings per Share (EPS) has increased by 77.70% to Rs 100.44. It has a Net worth of Rs 233.20 per share and the P/E ratio is 18.39 times. Its NPL has dropped to 0.26%. Its 18^th AGM had endorsed 20% stock dividend and 11.58% cash dividend for the FY 2072/73.