Sunrise Bank Q2 profit remains stagnant with meager 0.53% growth; EPS stands at Rs 20.01 with PE of 13.49 times
Wed, Jan 27, 2021 5:30 AM on Financial Analysis, Company Analysis, Latest,
Sunrise Bank (SRBL) has published its second-quarter report for the FY 2077/78 with a meager rise in net profit by 0.53%.
The bank’s profit has increased from Rs 94.43 crore in the second quarter of the fiscal year 2076/77 to Rs 94.94 crore in the second quarter of the fiscal year 2077/78. In the same quarter, the bank has Rs 21.33 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has a growth rate of 2.42% (compared to the immediate previous year ending) to Rs 92.40 arba and loans and advances to customers have increased by 7.34% (compared to the immediate previous year ending) to Rs 90.22 arba in the second quarter. The net interest income of the bank has decreased by 11.31% to Rs 1.81 arba from Rs 2.04 arba of the corresponding quarter.
The bank’s paid-up capital stands at Rs 9.48 arba with Rs 4.71 arba as its reserve and surplus.
Sunrise Bank's cost of fund stands at 5.14% and the base rate stands at 7.29%. The CCD ratio is 77.18%.
The Non-Performing Loan (NPL) has declined to 1.06% from 1.69%.
In the second quarter, the annualized EPS of the bank stands at Rs 20.01. The net worth per share stands at Rs 149.67 and the qtr end PE ratio stands at 13.49 times.
Financial Highlights:
* Figure is of Immediate Previous Year Ending
|
Particulars (In Rs '000) |
Sunrise Bank |
||
|---|---|---|---|
|
Q2 2077/78 |
Q2 2076/77 |
Difference |
|
|
Share Capital* |
9,487,944 |
8,967,811 |
5.80% |
|
Share Premium* |
0 |
0 |
|
|
Retained Earnings* |
793,492 |
743,606 |
6.71% |
|
Reserves* |
3,919,500 |
3,682,371 |
6.44% |
|
Deposits from Customers* |
92,407,578 |
90,223,272 |
2.42% |
|
Loans & Advances to customers* |
86,967,434 |
81,018,598 |
7.34% |
|
Net Interest Income |
1,815,824 |
2,047,436 |
-11.31% |
|
Impairment Charge/(Reversal) |
-90,637 |
244,971 |
0.00% |
|
Personnel Expenses |
784,341 |
703,708 |
11.46% |
|
Operating Profit |
1,356,303 |
1,345,151 |
0.83% |
|
Profit/(Loss) for the Year |
949,412 |
944,388 |
0.53% |
|
Total Comprehensive Income |
1,063,894 |
955,541 |
11.34% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
213,390 |
|
|
|
Capital Adequacy Ratio (CAR) |
14.53 |
15.14 |
-4.03% |
|
NPL |
1.06 |
1.69 |
-37.28% |
|
CCD (as per NRB Directives) |
77.18 |
74.54 |
3.54% |
|
Cost of Fund (%) |
5.14 |
7.14 |
-28.01% |
|
Interest Rate Spread (%) |
4.1 |
5.14 |
-20.23% |
|
Base Rate (%) |
7.29 |
9.99 |
-27.03% |
|
Annualized EPS (In Rs.) |
20.01 |
21.06 |
-4.98% |
|
Net Worth per Share (In Rs.) |
149.67 |
149.35 |
0.21% |
|
Qtr End PE Ratio (times) |
13.49 |
- |
- |
|
Qtr End Market Price |
270 |
- |
- |
