Profit of NIDC Development Bank decline by 51.77% to Rs 21.39 crore; Reserves rises to Rs 3.26 arba & Net worth at Rs 885.46
Thu, Aug 17, 2017 10:30 AM on Latest, Financial Analysis, Featured, Stock Market,
According to the published unaudited financial reports, the development bank’s net profit slides to Rs 21.39 crore in Q4 of the FY 2073/74 from Rs 44.36 crore in Q4 of the previous FY 72/73.
NIDC has paid up capital of Rs 41.58 crore in Q4 of FY 73/74 and its reserve has gone up from Rs 3.05 arba to Rs 3.26 arba in Q4 of FY 73/74 with growth of 6.8 percent.
NIDC had distributed 54% bonus shares to its shareholders from the profit of FY 2068/69. 49th AGM of NIDC had endorsed merger with Rastriya Banijya Bank Limited. Majority of the shares in both bank belongs to the government.
Total deposit collection of the bank amounts to Rs 1.15 arba where it has floated loans of Rs 3.02 arba in the fourth quarter of the FY 2073/74.
Its NPL has declined to 6.97% from 11.38% whereas CD ratio stands at 56.53%.
NIDC’s earning per share (EPS) stand at Rs 59.46 and net worth per share is at Rs 885.46 and the P/E ratio at 2.91 times.
