Miteri Development Bank reports 25% surge in profit in the second quarter

January 26, 2020 | Investopaper

Miteri Development Bank (MDB) has delivered a satisfactory performance until the second quarter of the fiscal year 2076/77. The bank has reported a 25% surge in profit from the corresponding quarter of the previous year. In the first 6 months this year, Miteri Development Bank earned Rs. 8.35 crores in profit, up from Rs. 6.69 crores in the same period last year.

The profit has inclined despite the slow growth in deposit and loan. The total deposit collection stood at Rs. 4.95 Arba. Likewise, the bank has floated the total loans of Rs. 4.24 Arba until the second quarter.

The current paid-up capital stands at Rs. 58.50 crores with the total reserve and surplus of Rs. 34.06 crores.

At this capital, the Earnings Per Share (EPS) is Rs. 28.55 while the per-share net worth is Rs. 158.23. The shares of MDB traded at Rs. 289 at the end of second quarter. The P/E ratio at this price is 10.12.

See the summarized version of the second-quarter report of the fiscal year 2076/77 in the table below:

Miteri Development Bank (MDB) Second Quarter Report, FY 2076/77

HEADINGS 2nd QTR, 2076/77 2nd QTR, 2075/76 PERCENT CHANGE
PAID-UP CAPITAL (Rs. In crores) 58.50 58.50 0.00
RESERVE & SURPLUS(Rs. In crores) 34.06 25.75 32.27
DEPOSITS (Rs. In Arba) 4.95 4.72 4.87
LOANS  (Rs. In Arba) 4.24 4.04 4.95
NET INTEREST INCOME (Rs. In crores) 13.44 12.85 4.59
PROFIT (Rs. In crores) 8.35 6.69 24.81
NON PERFORMING LOANS, NPL (%) 0.3 0.43 -30.23
BASE RATE(%) 11.74 12.34 -4.86
MARKET PRICE PER SHARE (Rs.) [Poush end, 2076] 289
P/E RATIO 10.12

Note: The above figures are based on the unaudited second-quarter report published by Miteri Development 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. 


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