Second quarter report of Garima Bikas Bank shows 54% rise in profit; EPS increases to Rs 20.05
Tue, Jan 29, 2019 8:39 AM on Financial Analysis, Latest, Stock Market,
Garima Bikas Bank Limited (GBBL) has registered a massive profit rise of 54.81 percent in the second quarter of the fiscal year 2075/76.
According to the unaudited financial report published by the national level development bank today, its net profit has surged to Rs 27.95 crore in second quarter, up from Rs 18.05 crore in the corresponding quarter of the last fiscal year 2074/75. The operating profit has increased to Rs 43.92 crore from Rs 28.03 crore as compared to the corresponding quarter of last fiscal year.
Garima Bikas Bank’s deposit base has increased by 54.99% in this period. It now has deposits of Rs 26.97 arba with floated loans worth Rs 23.52 arba. In the same period of FY 2074/75, the figures stood at only Rs 17.40 arba and Rs 15.75 arba respectively. With this, it has been able to increase its net interest income by 48.40% to Rs 64.98 crore.
Its non-performing loan has slightly decreased to 0.28 percent in Q2 from 0.47 percent in the previous year report.
Annualized Earnings per share (EPS) of GBBL now stands at Rs 20.05, net worth per share at 123.41, and the P/E ratio as of the end of Q2 at 9.23 times.
Currently, its paid up capital remains at Rs 2.78 arba with reserve of Rs 65.26 crore.
Major Highlights:
|
Particulars (In Rs '000) |
GBBL |
||
|---|---|---|---|
|
Q2 2075/76 |
Q2 2074/75 |
Difference |
|
|
Paid Up Capital |
2,788,368 |
2,534,880 |
10.00% |
|
Reserve & Surplus |
652,630 |
469,926 |
38.88% |
|
Deposits |
26,979,764 |
17,407,779 |
54.99% |
|
Borrowings |
- |
- |
- |
|
Loans & Advances |
23,523,058 |
15,754,977 |
49.31% |
|
Net Interest Income |
649,896 |
437,923 |
48.40% |
|
Provision for possible losses |
73,716 |
56,015 |
31.60% |
|
Operating Profit |
439,273 |
280,304 |
56.71% |
|
Net Profit |
279,537 |
180,564 |
54.81% |
|
NPL (%) |
0.28 |
0.47 |
-40.43% |
|
Annualized EPS (In Rs.) |
20.05 |
14.25 |
40.74% |
|
Net Worth per Share (In Rs.) |
123.41 |
118.54 |
4.11% |
|
P/E Ratio (In times) |
9.23 |
- |
|
