Sindhu Bikas Bank reports 98% rise in net profit for Q3 of FY 2075/76; NPL stands at 1.93% with no loss provision
Wed, May 8, 2019 1:34 PM on Financial Analysis, Latest, Stock Market,
Sindhu Bikas Bank Limited (SINDU) has registered 98.73% increase in net profit till the third quarter of the fiscal year 2075/76. Its net profit has increased to Rs 3.60 crore in third quarter from Rs 1.81 crore in the corresponding quarter of the fiscal year 2074/75.
According to the unaudited financial report published by the development bank today, its net interest income has increased to Rs 9.33 crore in Q3 as compared to Rs 7.4 crore in the corresponding quarter.
It’s paid up capital remains at Rs 50 crore with Rs 9.71 crore in its reserve.
Deposits collection reached Rs 2.01 arba in Q3 with the increment of 2.36% from corresponding last year quarter and floated loans of Rs 1.82 arba. It has borrowings of Rs. 40 crore with no loan loss provision as per the Q3 of FY 2074/75.
Its non-performing loan has increased to 1.93% in Q3 from 1.36% in the Q3 of previous year report.
Its annualized earning per share (EPS) stand at Rs 9.61, Net worth per share at Rs 119.42 and P/ E ratio at 13.52 times.
Major Highlights:
| Particulars (In Rs '000) | Sindhu Bikas Bank Limited | ||
|---|---|---|---|
| Q3 2075/76 | Q3 2074/75 | Difference | |
| Paid Up Capital | 500,027 | 418,116 | 19.59% |
| Reserve & Surplus | 97,118 | 94,428 | 2.85% |
| Deposits | 2,019,192 | 1,972,673 | 2.36% |
| Borrowings | 400,000 | 500,000 | -20.00% |
| Loans & Advances | 1,827,311 | 1,510,573 | 20.97% |
| Net Interest Income | 93,313 | 74,036 | 26.04% |
| Provision for possible losses | - | 4,485 | |
| Operating Profit | 48,067 | 32,993 | 45.69% |
| Net Profit | 36,052 | 18,142 | 98.73% |
| NPL (%) | 1.93 | 1.36 | 41.91% |
| Annualized EPS (In Rs.) | 9.61 | ||
| Net Worth per Share (In Rs.) | 119.42 | ||
| PE ratio | 13.52 | ||
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