Everest Bank Reports 36 Percent Drop In Profit (Q3 Report)
April 27, 2021 | Investopaper
Everest Bank has reported a 36 percent drop in net profit until the third quarter of the current fiscal year 2077/78. As per the unaudited report published by the bank, the net profit stood at Rs 1.50 Arba in the first nine months period. The bank had earned Rs 2.35 Arba in the corresponding period of the previous fiscal year.
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The profit has plunged due to the decline in the net interest income of the bank. The bank has disclosed a 35 percent fall in the net interest income as compared to the same period of the last year. In the nine months, EBL has earned Rs 2.81 Arba as net interest income. Such income stood at Rs 4.34 Arba until the third quarter of the previous year.
With the drop in profit, the annualized earnings per share stood at Rs 22.60. See the performance of EBL in the table below:
Everest Bank Limited (EBL): Third Quarterly Report Summary, FY 2077/78
| Financial Indicators | Q3, F.Y. 2077/78 | Q4, F.Y. 2076/77 | Percent Change |
| Paid up capital (Rs.’Arba’) | 8.93 | 8.51 | 4.94 |
| Reserve and Surplus (Rs.’Arba’) | 12.06 | 10.12 | 19.17 |
| Deposits From Customers (Rs.’Arba’) | 155.65 | 143.55 | 8.43 |
| Loans & Advances To Customers (Rs.’Arba’) | 120.37 | 112.21 | 7.27 |
| Financial Indicators | Q3, F.Y. 2077/78 | Q3, F.Y. 2076/77 | Percent Change |
| Net Interest Income (Rs.’Arba’) | 2.81 | 4.34 | -35.25 |
| Operating Profit (Rs.’Arba’) | 2.15 | 3.36 | -36.01 |
| Net Profit (Rs.’Arba’) | 1.5 | 2.35 | -36.17 |
| Distributable Profit (Rs.’Arba’) | 1.06 | – | – |
| Non Performing Loans, NPL (%) | 0.12 | 0.2 | -40.00 |
| Base rate (%) | 6.1 | 8.34 | -26.86 |
| Earnings Per Share, EPS (Rs.) | 22.6 | ||
| Networth Per Share ( Rs.) | 235.72 | ||
| Market Price Per Share (Rs.) [Chaitra end, 2077 BS] | 814 | ||
| P/E Ratio | 36.02 |
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.
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