NPL Of Excel Development Bank Rises To 3.66%, Profit Tumbles By 25%
May 7,2020 | Investopaper
Excel Development Bank (EDBL) has reported a fall in net profit by 25 percent until the third quarter of this fiscal year 2076/77. The bank earned a net profit of Rs. 8.61 crores in the nine months period. Last year, it had earned Rs. 11.44 crores in net profit during the same period.
The net profit has declined despite the increase in the net interest income by 21 percent. Excel Development Bank earned Rs. 32.97 crores as the net interest income in the nine months. The fall in profit is mainly due to the increase in provision for the loans as the Non-Performing Loans (NPL) surged to 3.66 percent.
The bank made a provision of Rs. 11.68 crores for the doubtful loans. Such amount stood at Rs 3.53 crores in the previous year. Due to this, the operating profit of the bank has plunged by 24.40 percent to 12.30 crores.
The distributable profit is at a mere 1.16 crores.
See the summarized version of the third quarter report in the table below:
Excel Development Bank Third Quarter Report Summary, FY 2076/77
| Headings | 3rd Qtr, F.Y. 2076/77 | Ashad End, F.Y. 2075/76 | % Change |
| Paid up capital(Rs.’crores’) | 69.27 | 69.27 | 0.00 |
| Reserve and Surplus(Rs.’crores’) | 44.2 | 35.1 | 25.93 |
| Deposits From Customers (Rs.’Arba’) | 9.09 | 7.44 | 22.18 |
| Loans & Advances To Customers (Rs.’Arba’) | 7.91 | 6.35 | 24.57 |
| Headings | 3rd Qtr, F.Y. 2076/77 | 3rd Qtr, F.Y. 2075/76 | % Change |
| Net Interest Income(Rs.’crores’) | 32.97 | 27.19 | 21.26 |
| Operating Profit (Rs.’crores’) | 12.3 | 16.27 | -24.40 |
| Net Profit (Rs.’crores’) | 8.61 | 11.44 | -24.74 |
| Distributable Profit (Rs.’crores’) | 1.16 | – | – |
| Non Performing Loans, NPL(%) | 3.66 | 1.08 | 238.89 |
| Base rate(%) | 10.61 | 10.5 | 1.05 |
| Earnings Per Share, EPS(Rs.) | 16.57 | ||
| Networth Per Share ( Rs.) | 163.92 | ||
| Market Price Per Share (Rs.) Chaitra end, 2076] | 375 | ||
| P/E Ratio | 22.63 |
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.
Read Related Contents:
