Saptakoshi Development Bank shows an astonishing growth of 495% in the net profit; EPS at Rs 18.94

Saptakoshi Development Bank (SKDBL) has registered an outstanding growth of 495.28% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the development bank today, its net profit has increased to Rs 94.65 lakh in second quarter, up from Rs. 15.90 lakh in the corresponding quarter of the previous fiscal year. SKDBL’s net interest income has risen to Rs 3.09 crore in Q2 as compared to Rs 1.46 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 10 crore with a reserve of Rs 2.47 crore. The bank also collected deposits of Rs 84.32 crore till Q2, up from Rs 54.59 crore in the corresponding period last year. Likewise, it has extended loans and advances of Rs 71.23 crore in Q2 whereas in the same period last year, the figure stood at Rs 42.01 crore. Its CCD ratio stands at 73.59%. SKDBL’s annualized Earnings per Share (EPS) stands at Rs 18.94 per share. It has a Net worth of 124.72 per share and P/E ratio of 15.31 times. The company’s price to book value ratio is 2.32 times. It is issuing 100% right share after which its paid up capital will reach Rs 20 crore. Its 4^th AGM had endorsed a bonus share of 11% (for the FY 2072/73) and a further 130% right. After the issuance of 11% bonus and 130% right shares, its paid up capital will reach Rs 48.53 crore. As per NRB’s directive for all 1-3 district level development banks to maintain a minimum paid up capital of Rs 50 crore by the end of FY 2073/74, Saptakoshi Development Bank will have to issue a further capital increase of only 3%.