Om development bank reports 44% rise in net profit as of Q3 of 2075/76; Non-performing loan also increases by 15%
Thu, Apr 25, 2019 2:51 PM on Company Analysis, Financial Analysis, Latest, Stock Market,
Om Development Bank Limited (ODBL) has registered an increase in net profit in the third quarter of the FY 2075/76.
According to the unaudited financial report published by the development bank today, its net profit has increased to Rs. 34.74 crore in third quarter, up from Rs.24.02 crore in the corresponding quarter of the previous fiscal year.
ODBL’s net interest income has risen to Rs 77.9 crore in Q3 as compared to Rs. 53.96 crore in the corresponding quarter of the last fiscal year.
As of Q3, it has a paid up capital of Rs 2.51 arba with a reserve of Rs 1.15 arba.
The bank also collected deposits of Rs 24.49 arba in Q3, up from Rs 19.14 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 22.49 arba in Q3 whereas in the same period last year, the figure stood at Rs. 17.10 arba.
ODBL’s annualized Earnings per Share (EPS) is Rs 18.41 per share. Its Net worth per share stand at Rs 145.77 with P/E Ratio of 10.7 times.
The company is in process of being acquired by Prime Commercial Bank Limited.
Major Highlights:
| Particulars (In Rs '000) | ODBL | ||
|---|---|---|---|
| Q3 2075/76 | Q3 2074/75 | Difference | |
| Paid Up Capital | 2,515,236 | 2,515,237 | - |
| Reserve & Surplus | 1,151,202 | 679,066 | 69.53% |
| Deposits | 24,789,999 | 19,147,152 | 29.47% |
| Borrowings | - | - | - |
| Loans & Advances | 22,495,122 | 17,106,093 | 31.50% |
| Net Interest Income | 779,414 | 539,656 | 44.42% |
| Provision for possible losses | 106,662 | 47,099 | 126.46% |
| Operating Profit | 540,396 | 404,313 | 33.66% |
| Net Profit | 347,375 | 240,275 | 44.57% |
| NPL (%) | 0.95 | 0.82 | 15.85% |
| Annualized EPS (In Rs.) | 18.41 | 14.12 | 30.38% |
| Net Worth per Share (In Rs.) | 145.77 | 127 | 14.78% |
| P/E Ratio (In times) | 10.7 | - | |
