Mahalaxmi Bikas Bank profit grows by 54 percent in the second quarter
February 6, 2020 | Investopaper
Mahalaxmi Bikas Bank has published an unaudited second-quarter report of the fiscal year 2076/77.
The development bank has reported decent growth in the net profit in the second quarter. The net profit has grown by 54.40 percent in the second quarter. The net profit of the company stands at Rs. 30.51 crores in the second quarter which was 19.76 crores in the corresponding quarter. Likewise, the net interest income has grown by 27.84 percent to 80 crores in the second quarter. In the corresponding quarter, the net interest income was 62.58 crores.
The company has a paid-up capital of 3.07 Arba whereas the reserve and surplus of the company stand at Rs.1.62 Arba. In the six month period, the deposits have grown by 14.65 percent to 35.07 Arba while the bank has floated loans amounting to Rs. 29.19 Arba. a growth of 11.58 percent in the same period. So, if we project it into annual growth the figure stands at around 29 percent growth in deposits and 23 percent growth in loans. This shows that there is good growth in deposit and loan of the development bank.
Until the second quarter, the company has a distributable profit of 21.13 crores. The bank has been able to reduce the non-performing loan significantly. The non-performing loan has declined by 37.41 percent to 2.76 percent from 4.41 percent. The base rate of the company stands at 11.23 percent.
The company has reported an earnings per share of 19.86 whereas the net worth per share of the company stands at Rs. 152.76.
See the financial highlights of the company below.
FINANCIAL HIGHLIGHTS OF MAHALAXMI BIKAS BANK, SECOND QUARTER, FISCAL YEAR 2076/77
| HEADINGS | 2nd QTR, 2076/77 | 4th QTR, 2075/76 | PERCENT CHANGE |
| PAID-UP CAPITAL (Rs. In crores) | 307.21 | 284.45 | 8.00 |
| RESERVE & SURPLUS(Rs. In crores) | 162.08 | 182.48 | -11.18 |
| DEPOSITS From Customers (Rs. In Arba) | 35.07 | 30.59 | 14.65 |
| LOANS To Customers (Rs. In Arba) | 29.19 | 26.16 | 11.58 |
| HEADINGS | 2nd QTR, 2076/77 | 2nd QTR, 2075/76 | PERCENT CHANGE |
| NET INTEREST INCOME (Rs. In crores) | 80 | 62.58 | 27.84 |
| PROFIT (Rs. In crores) | 30.51 | 19.76 | 54.40 |
| DISTRIBUTABLE PROFIT (Rs. In crores) | 21.13 | ||
| NON PERFORMING LOANS, NPL (%) | 2.76 | 4.41 | -37.41 |
| BASE RATE(%) | 11.23 | 11.25 | -0.18 |
| EARNINGS PER SHARE, EPS (Rs.) | 19.86 | ||
| NETWORTH PER SHARE (Rs.) | 152.76 | ||
| MARKET PRICE PER SHARE (Rs.) [Poush end, 2076] | 194 | ||
| P/E RATIO | 9.77 |
Note:
The above figures are based on the unaudited second-quarter report published by the Mahalaxmi Bikas Bank. 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.
