Shine Resunga reports 20.30% net profit rise in Q4; National Community earns Rs 1.35 cr

ShareSansar August 2:

Shine Resunga Development Bank Limited (SHINE) has reported 20.30 percent rise in net profit in the last fiscal year 2071/72.

Publishing its unaudited financial report for the fourth quarter today, the development bank based in Tamghas, Gulmi has stated that its net profit rose to Rs 19.48 crore up from Rs 16.19 crore at the end of the fiscal year 2070/71.

Shine Resunga had a good core business record during the last fiscal year. Its deposit mobilization rose from Rs 4.90 arba to Rs 6.24 arba and it has succeeded in extending Rs 5.26 arba in loan, up from Rs 4.30 arba at the end of the fiscal year 2070/71.

Its net interest income has surged to Rs 36.73 crore from Rs 28.77 crore.

It has managed to post a profit growth despite provisioning Rs 2.30 crore for possible loss.

It has also managed to write back Rs 82.35 lakh by the end of the fourth quarter.

Shine Resunga’s non-performing loan has slightly increased from 0.38 percent to 0.49 percent by the end of the fourth quarter.

Its EPS now stands at 30.77, net worth per share at Rs 149.52 and P/E ratio at 11.70.

It has a paid up capital of Rs 63.33 crore and Reserve of Rs 31.36 crore.

Meanwhile, Nepal Community Development Bank Limited (NCDB) has also reported a net profit rise of 27.98 percent in the fiscal year 2070/71.

As compared to corresponding quarter of the fiscal year 2070/71, the net profit rose from Rs 1.06 crore to Rs 1.35 crore.

The development bank accumulated deposits of Rs 91.80 crore and loan flow was Rs 73.70 crore in the fourth quarter. Both deposits and loan have increased as compared to corresponding quarter of fiscal year 2070/71.

The net profit is mainly fueled by the core business of the development bank as the net interest income has increased to Rs 4.95 crore as compared to corresponding quarter it was Rs 3.09 crore.   

Likewise it managed to write back a provision of Rs 48.44 lakh for possible loss in this quarter.

Its NPL is at 0.10 percent.

Its EPS now stands at Rs 13.59, net worth per share at Rs 115.24 and the PE ratio at 25.68 times.

The development Bank has a paid up capital of Rs 10 crore and a Reserve of Rs 1.52 crore.

Similarly, Professional Diyalo Bikas Bank Ltd (PRDBL) has earned a net profit of Rs 2.23 crore in the fourth quarter of the last fiscal year.

According to the unaudited financial results of the bank, its net profit inched up to Rs 2.23 crore in the last year from Rs 2.20 crore in the previous fiscal year 2070/71.

The bank provisioned Rs 85.66 lakh last year for the possible loss. Its non-performing loan also went up to 1.66 percent in the fiscal year 2071/72 from 1.32 percent in the previous year of 2070/71.

The company’s paid up capital stands at Rs 22 crore and Reserve of Rs 4.32 crore.