Tinau Development Bank’s net profit rise by 96% in Q4, thanks to the core business

ShareSansar, July 24:

Tinau Development Bank Limited’s net profit has increased by 96 percent according to the unaudited financial report of fiscal year 2070/71. The development bank earned Rs 2.87 crore from Rs 1.47 crore in the fourth quarter as compared to corresponding quarter of the last fiscal year.

The company’s deposit accumulation has increased to Rs 1.75 arba from Rs 1.53 arba. Likewise, the loan flow has increased from Rs 1.11 arba to Rs 1.38 arba.

The net profit was mainly fueled by increase in the core business as the net interest income has increased to Rs 7.11 crore up from Rs 4.88 crore.

The provision for possible loss has increased to Rs 26.24 lakh up from Rs 6.37 lakh. The development bank’s NPL has decreased to 0.04 percent from 0.11 percent.

Earnings per share stand at Rs 22.31, Net worth per share is Rs 141.51 and the PE ratio is 13.58 times.