Sewa Bikas Bank reports Rs 7.2 crore net profit by fourth quarter end

ShareSansar, July 31:

Sewa Bikas Bank Limited has reported a massive rise in net profit by the end of the fourth quarter of the last fiscal year 2070/71.

According to the unaudited financial report for the fourth quarter published today by the development bank, its net profit has risen to Rs 7.29 crore as compared to merely Rs 3.39 net profit it posted at the end of the previous fiscal year 2069/70.

Its net interest income has surged to Rs 15.27 crore at the end of the fourth quarter, up from Rs 8.67 crore at the corresponding quarter of the previous fiscal year.

It mobilized Rs 3.07 arba in deposit and Rs 2.42 arba in loan, up from Rs 2.44 arba in deposit and Rs 2.09 arba 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 58.19 lakh for possible loss by the end of the fourth quarter.

Its non-performing loan is also negligibly low at 0.19 percent.

Sewa’s EPs is now priced at 28.30, P/E ratio at 11.94 and net worth per share is priced at Rs 153.81.