Sahara Dev. reports Rs 48.89 lakhs net profit by Q2; Market Price at Rs 965

ShareSansar, February 10:

Sahara Development Bank Limited has reported a healthy rise in net profit of 88.19 percent by the end of the second quarter of the current fiscal year 2071/72.

According to the unaudited financial report for the second quarter published today by the development bank, its net profit has risen to Rs 48.89 lakhs as compared to Rs 25.98 lakhs net profit it posted at the second quarter end of the previous fiscal year 2070/71.

Its net interest income has surged to Rs 91.26 lakhs at the end of the second quarter, up from Rs 57.57 lakhs at the corresponding quarter of the previous fiscal year.

It mobilized Rs 29.40 crore in deposit and Rs 23 crore in loan, up from Rs 20.41 crore in deposit and Rs 15.64 crore in loan.

It has succeeded in posting such an impressive profit without write back of a single penny from the amount provisioned for possible loss.

It has, on the other hand, provisioned Rs 8.16 lakh for possible loss by the end of the second quarter.

Its non-performing loan is also negligibly low at 0.65 percent.

Sahara annualized EPs is now priced at Rs 44.89, P/E ratio at 46.80 and net worth per share is priced at Rs 190.64.

Its latest market price per share at the end of February 10 is Rs 965.