Sunrise Bank reports a healthy Q3 financial results: profit rises by 30.14% with EPS of Rs 20 and can distribute 14% dividend from this year earnings
Tue, Apr 30, 2019 6:51 AM on Financial Analysis, Stock Market,
Sunrise Bank Limited (SRBL) has published an outstanding third quarter report of FY 2075 with 30.14% growth in net profit.The bank’s profit has increased from Rs 94.21 crore in the third quarter of the fiscal year 2074/75 to Rs 1.22 arba in the third quarter of the fiscal year 2075/76.
The bank’s deposit rises by 7.17% to Rs 72.19 arba whereas loans and advances have also increased by 16.22% to Rs 68.81 arba till the third quarter. The net interest income (core business income) of the bank has also increased by an outstanding 37.66% to Rs 2.64 arba from Rs 1.92 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 8.15 arba with Rs 3.63 arba as its reserve (share premium +retained earnings+ reserves). The Non-Performing Loan (NPL) has decline slightly to 1.37%.
In the same quarter, the bank has Rs 91.34 crore as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. If the profit growth of this quarter continues in fourth quarter then the company will have Rs 1.21 arba (approx.) as distributable profit. This means Sunrise Bank can distribute around 14% (approx.) dividend from the earnings of FY 2075/76 next year if other regulatory requirements are not required.
In the third quarter, the annualized EPS of the bank stands at Rs 20.05. The net worth per share stands at Rs 144.55 and PE ratio stands at 11.72 times.
Major Highlights:
* Figure are of Immediate Previous Year Ending (Audited)
* Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q3 end paid up capital.
|
Particulars (In Rs '000) |
Sunrise Bank |
||
|---|---|---|---|
|
Q3 2075/76 |
Q3 2074/75 |
Difference |
|
|
Paid Up Capital |
8,152,556 |
8,152,556* |
0.00% |
|
Share Premium |
127,161 |
127,161* |
0.00% |
|
Retained Earnings |
1,072,139 |
941,855* |
13.83% |
|
Reserves |
2,432,577 |
2,332,766* |
4.28% |
|
Deposits |
72,196,183 |
67,366,128* |
7.17% |
|
Loans & Advances |
68,815,327 |
59,213,551* |
16.22% |
|
Net Interest Income |
2,643,772 |
1,920,535 |
37.66% |
|
Impairment Charge/(Reversal) |
-279,828 |
-244,331 |
- |
|
Operating Profit |
1,753,792 |
1,479,401 |
18.55% |
|
Profit/(Loss) for the Year |
1,226,099 |
942,122 |
30.14% |
|
Total Comprehensive Income |
1,257,839 |
942,122 |
33.51% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
913,425 |
- |
- |
|
Capital Adequacy Ratio (CAR) |
11.87 |
14.39 |
-17.51% |
|
NPL |
1.37 |
1.45 |
-5.52% |
|
CCD (as per NRB Directives) |
79.73 |
77.9 |
2.35% |
|
Cost of Fund (%) |
7.52 |
7.4 |
1.62% |
|
Base Rate (%) |
10.43 |
11.34 |
-8.02% |
|
Annualized EPS (In Rs.) |
20.05 |
15.41 |
30.14% |
|
Net Worth per Share (In Rs.) |
144.55 |
141.73 |
1.99% |
|
PE Ratio (times) |
11.72 |
- |
- |
