Triveni Q4 profit up by 47% despite Rs2.9 crore set aside for possible loss

ShareSansar, August 4:

Triveni Bikas Bank Limited has posted an impressive 47.29 percent net profit growth in the last fiscal year 2070/71.

Publishing an unaudited report for the fourth quarter today, the development bank based in Chitwan has stated that its net profit surged to Rs 9.25 crore from Rs 6.28 crore at the end of the previous fiscal year 2069/70.

The profit was basically fuelled by the core business as its net interest income rose to Rs 18.68 crore up from Rs 14.07 crore.

Triveni mobilized Rs 4.10 arba in deposit and Rs 3.08 arba in loan by the fourth quarter as compared to Rs 2.88 arba in deposit and Rs 2.33 arba in loan at the end of the corresponding quarter.

The profit is remarkable considering the fact that Triveni has also provisioned Rs 2.91 crore for possible loss though it has also managed to write back Rs 1.73 crore from the amount provisioned for possible loss.

Its non-performing loan has marginally increased to 1.03 percent, up from 0.98 percent at the end of the previous fiscal year.

Triveni’s EPS (annualized) is now priced at Rs 25, P/E ratio at 10.64 and net worth per share at 136.28.