Everest Bank Reports Fall In Net Profit By 52 Percent In Q1

November 9, 2020 | Investopaper

Everest Bank Limited (EBL) has reported a drop in net profit by 52 percent in the first quarter of the fiscal year 2077/78. The bank posted a profit of Rs. 33.48 crores until the first quarter. In the same period of the previous year, the net profit of the bank stood at Rs 69 crores. The distributable profit as of the first quarter is only Rs. 13.60 crores.

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At current paid-up capital of Rs. 8.51 Arba, the company has accumulated reserve and surplus of Rs. 10.44 Arba. Until the Ashwin end 2077, Everest Bank has collected the deposit of Rs. 156.55 Arba from the customers and floated the loans of Rs. 115.92 Arba.

The bank has earned Rs 1.02 Arba in net interest income in the 3 months period. This is 28.67 percent lower than the net interest income of the corresponding period of the previous year. The non-performing loan (NPL) has slightly increased to 0.22 percent. However, the base rate has declined to 7.07 percent. The annualized earnings per share (EPS) is Rs. 15.81 and per-share net worth is Rs. 223.32.

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The first-quarter report of Everest Bank is summarized in the table below:

Everest Bank First Quarter Report Summary, 2077/78

Financial Indicators 1st Qtr, 2077/78 4th Qtr, 2076/77 Percent Change
Paid up capital(Rs.’Arba’) 8.51 8.51 0.00
Reserve and Surplus(Rs.’Arba’) 10.44 10.13 3.06
Deposits From Customers (Rs.’Arba’) 156.55 143.55 9.06
Loans & Advances To Customers (Rs.’Arba’) 115.92 112.21 3.31

 

Financial Indicators 1st Qtr, 2077/78 1st Qtr, 2076/77 Percent Change
Net Interest Income(Rs.’Arba’) 1.02 1.43 -28.67
Operating Profit (Rs.’Arba’) 0.48 0.99 -51.52
Net Profit (Rs.’Arba’) 0.33 0.69 -52.17
Distributable Profit (Rs.’Arba’) 0.14
Non Performing Loans, NPL(%) 0.22 0.17 29.41
Base rate(%) 7.07 8.52 -17.02
Earnings Per Share, EPS(Rs.) 15.81
Networth Per Share ( Rs.) 223.32
Market Price Per Share (Rs.) [Ashwin  end, 2077] 711
P/E Ratio 44.97

Note:

The above figures are based on the un-audited quarterly report published by the respective company. Investors are advised to take other things into consideration along with this report while making investment decisions. The numbers may vary after the final audit.

Note: If you want to see the reports of other companies, Click Here.

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