Mega Bank’s Profit Grows By 36 Percent (Q2 Report)

January 29, 2021 | Investopaper

Mega Bank Nepal has reported a 36 percent rise in net profit in the second quarter of the current fiscal year 2077/78. The bank has posted a net profit of Rs 1.30 Arba, up from Rs 95 crores of the corresponding period of the previous fiscal year.


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The rise in profit is due to the increase in the net interest income of the bank by 26 percent. The bank earned Rs 2.69 Arba as net interest income, up from Rs 2.13 Arba of the same period last year.

As of Poush end 2077 BS, Mega Bank has a paid-up capital of Rs 14.65 Arba and the reserve and surplus amounting to Rs. 4.55 Arba. The deposits from customers stood at 128.62 Arba while the loans to customers amount to 123.39 Arba. However, these do not include the transactions with other BFIs.

The non-performing loan has grown to 1.71 percent. On the other hand, the base rate has declined to 7.35 percent. The bank has an annualized earning per share (EPS) of Rs. 17.97 whereas the net worth per share stands at Rs. 131.64.

The table below presents the summarized version of the unaudited second quarterly report published by Mega Bank Nepal.

Mega Bank Second Quarter Report Summary, FY 2077/78

Financial Indicators Q2, F.Y. 2077/78 Q4, F.Y. 2076/77 Percent Change
Paid up capital(Rs.’Arba’) 14.65 13.13 11.58
Reserve and Surplus(Rs.’Arba’) 4.55 4.87 -6.57
Deposits From Customers (Rs.’Arba’) 128.62 127.89 0.57
Loans & Advances To Customers (Rs.’Arba’) 123.39 110.49 11.68

 

Financial Indicators Q2, F.Y. 2077/78 Q2, F.Y. 2076/77 Percent Change
Net Interest Income(Rs.’Arba’) 2.69 2.13 26.29
Operating Profit (Rs.’Arba’) 1.82 1.35 34.81
Net Profit (Rs.’Arba’) 1.3 0.95 36.84
Distributable Profit (Rs.’Arba’) 0.68
Non Performing Loans, NPL(%) 1.71 1.49 14.77
Base rate(%) 7.35 9.76 -24.69
Earnings Per Share, EPS(Rs.) 17.97
Networth Per Share ( Rs.) 131.64
Market Price Per Share (Rs.) [Poush end, 2077] 284
P/E Ratio 15.80

Note:

The above figures are based on the unaudited second-quarter 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.

The share price, as well as the P/E ratio, is based on the data of Poush end, 2077 BS. At current, the numbers may vary. 

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

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