Recovery Continues, Machhapuchchhre Bank again reports astounding profit rise of 182% in Q1
Fri, Nov 7, 2014 12:00 AM on Financial Analysis,
ShareSansar, November 7:
Like previous quarter of last fiscal year, Machhapuchchhre Bank Limited has reported a massive rise in net profit in the first quarter of the current fiscal year 2071/72.
Publishing the unaudited quarterly report for the first quarter today, the commercial bank has stated that it has posted a profit rise of 182 percent in the quarter as its net profit rose to Rs 19.03 crore, up from Rs 6.74 crore in the corresponding quarter last fiscal year.
Machhapuchchhre’s net interest income has surged to Rs 34.33 crore, up from Rs 21.04 crore in the first quarter of the last fiscal year.
Similarly, the bank also mobilized Rs 37.37 arba in deposits and Rs 30.44 arba in loan as compared to Rs 28.89 arba in deposits and Rs 23.49 arba in loan in the corresponding quarter of the last fiscal.
The bank also recovered Rs 1.86 crore as the write back of the amount provisioned for possible losses; Whereas it has provisioned Rs.5.40 crore for the same.
The bank’s non-performing loan has slightly increased to 2.04 percent in the Q1 compared to preceding quarter Q4 1.78 percent.
Its EPS has surged to Rs.27.43 from Rs 10.88 in the corresponding quarter, and its net worth per share has also risen to Rs 123.40, up from Rs 115.52.
