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Western Development Bank reports 18% rise in net profit for third quarter of FY 2075/76; EPS stands at Rs 14.61 and net worth stands at Rs 124.87

Tue, May 7, 2019 1:01 PM on Financial Analysis, Latest, Stock Market,
-ShareSansar

Western Development Bank Limited (WDBL) has published unaudited financial report for the third quarter today. It has stated that net profit has increased to Rs 7.36 crore in third quarter of fiscal year 2075/76 from Rs 6.19 crore reported in the corresponding quarter of the previous fiscal year 2074/75.

Likewise, it extended loans of Rs 2.94 arba from Rs 2.59 arba. It has collected deposits of Rs 3.37 arba in the third quarter of the current fiscal year. It has paid up capital of Rs 50.40 crore with reserve of Rs 5.17 crore in Q3.

Its net interest income has also increased from Rs 11.4 crore in the corresponding quarter last year to Rs 13.19 crore in the third quarter of fiscal year 2075/76. Its operating profit has increased to Rs 11.57 crore in Q3, from Rs 9.73 crore in corresponding quarter.

Earnings per Share (EPS) stands at Rs 14.61. The development bank’s non-performing loan (NPL) has decreased to 0.75 percent in the current quarter. Currently, Net worth per share stands at Rs 124.87. The development bank is being acquired by Deva Bikas Bank Limited due to which the transaction of its shares in the secondary market is on halt.

Major Highlights:

Particulars (In Rs '000)

 WDBL
Q3 2075/76 Q3 2074/75 Difference
Paid Up Capital 504,068 429,312 17.41%
Reserve & Surplus 51,749 81,765 -36.71%
Deposits 3,376,906 2,998,977 12.60%
Borrowings - - -
Loans & Advances 2,948,566 2,559,129 15.22%
Net Interest Income 131,983 114,719 15.05%
Provision for possible losses 7,780 11,477 -32.21%
Operating Profit 115,735 97,332 18.91%
Net Profit 73,649 61,938 18.91%
NPL (%) 0.75 1.67 -55.09%
EPS (In Rs.) 14.61    
Net Worth per Share (In Rs.) 124.87    
P/E Ratio (In times) 15.81    

 

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