Rise in core business income of Sunrise Bank result 37.07% profit growth; PE remains at 10.72 times and base rate decline to 9.97%

Fri, Nov 8, 2019 6:44 AM on Financial Analysis, Latest, Stock Market,
Rise in co...

Sunrise Bank Limited (SRBL) has published its first quarter report for the FY 2076/77 with excellent rise in net profit by 37.07%.

The bank’s profit has increased from Rs 33.14 crore in the first quarter of the fiscal year 2075/76 to Rs 45.43 crore in the first quarter of the fiscal year 2076/77. In the same quarter, the bank has Rs 15.83 crore as distributable profit after PL Appropriation and Regulatory Adjustments.

The bank’s deposit from customers has increased by 3.26% to Rs 77.89 arba and loans and advances to customers also increased by 5.35% to Rs 72.55 arba in the first quarter. The net interest income (core business income) of the bank has increased by 33.91% to Rs 1.10 arba from Rs 82.18 crore of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.15 arba with Rs 4.54 arba as its reserve and surplus.

The Non-Performing Loan (NPL) has slightly increased to 1.27% from 1.12%.

In the first quarter, the annualized EPS of the bank stands at Rs 22.29. The net worth per share stands at Rs 154.22 and qtr end PE ratio stands at 10.72 times.

Sunrise Bank proposes 15.8% dividend from the profit of 2075/76; Paid-up capital post adjustment to reach Rs 8.96 arba

The FY 2075/76 15.8% dividend includes 10% bonus share which is yet to be adjusted in published Q1 report.

Click here for Q1 report:

Major Highlights:

 * 2075/76 figure are of Immediate Previous Year Ending.

* Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q1 end paid up capital.