SKBBL profit up by 34% in Q4 despite provisioning Rs1.4 crore for possible loss

ShareSansasar, August 7:

Sana Kisan Bikas Bank Limited, a leading microfinance institutions of the country, has reported steady profit rise in the fourth quarter of the last fiscal year 2070/71.

Publishing the unaudited financial report for the fourth quarter today, Sana Kisan has stated that its net profit has surged to Rs 11.55 crore by the quarter end, up from Rs 8.64 crore in the corresponding quarter of the previous fiscal year 2069/70.

Its net interest income rose to Rs 23.08 crore in the third quarter from Rs 17.97 crore in the corresponding quarter.

It mobilized Rs 5.22 arba in borrowing and released Rs 5.36 arba in loan as compared to Rs 3.78 arba it had borrowed from BFIs in the fourth quarter of the previous fiscal year and Rs 3.63 arba it had mobilized in loan.

It managed to post hefty profit growth despite provisioning Rs 1.43 crore for possible loss.

Another encouraging aspect of Sana Kisan’s balance sheet is that its non-performing loan has dropped to 0.11 percent by the end of the fourth quarter, down from 0.65 percent in the corresponding quarter.

Sana Kisan’s EPS has now risen to Rs 50.09, while its P/E ratio stands at 27.23 times and its net worth per share stands at Rs 385.53.