Shine Resunga Development Bank Limited (SHINE) has reported downfall in profit by 4.10% for the first quarter of the fiscal year 2074/75.
As per the unaudited report for the first quarter published today, the development bank’s net profit falls to Rs 6.50 crore in the first quarter of fiscal year 2074/75, from Rs 6.78 crore in the same quarter of the fiscal year 2073/74.
The development bank has collected 10.93 arba in deposit and extended a total of Rs 9.65 arba in loans and advances in the first quarter of fiscal year 2074/75. In the corresponding quarter of fiscal year 2073/74, the bank deposits stood at Rs 9.05 arba and loan and advances at Rs 8.02 arba.
Its net interest income surged to Rs 14.60 crore in Q1 up from Rs 13.50 crore in the corresponding quarter.
It’s paid up capital remains at Rs 1.37 arba with reserve of Rs 33.48 crore. It had distributed 25% bonus shares from the net profit of FY 2073/74.
SHINE’s non-performing loan (NPL) has inclined to 0.53 percent in this ongoing quarter from 0.24 percent in the corresponding quarter.
Annualized Earning per Share (EPS) of the development bank stands at Rs 18.89 and net worth per share is at Rs 124.29. Its P/E ratio stands at 21.76 times.
Major Highlights:
| Particulars (In Rs '000) |
Shine Resunga Dev Bank |
| Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
1,378,615 |
1,102,892 |
25.00% |
| Reserve & Surplus |
334,884 |
262,907 |
27.38% |
| Deposits |
10,938,199 |
9,053,317 |
20.82% |
| Loans & Advances |
9,659,302 |
8,025,270 |
20.36% |
| Net Interest Income |
146,024 |
135,044 |
8.13% |
| Provision for possible losses |
18,417 |
8,547 |
115.47% |
| Operating Profit |
97,694 |
102,845 |
-5.01% |
| Net Profit |
65,097 |
67,880 |
-4.10% |
| NPL (%) |
0.53 |
0.24 |
120.83% |
| Annualized EPS (In Rs.) |
18.89 |
24.62 |
-23.28% |
| Net Worth per Share (In Rs.) |
124.29 |
123.84 |
0.37% |
| P/E Ratio (In times) |
21.76 |
- |
- |
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