NIC Asia Bank’s Net Profit Plunges by 42 Percent [Q1 Report]
November 3, 2023 | Investopaper
NIC Asia Bank Limited (NICA) has reported a sharp drop in profit until the first quarter of the current fiscal year 2080/81. The bank has posted a net profit of Rs 1.01 Arba in the first three months, down from Rs 1.75 Arba of the corresponding period of the previous fiscal year.
The fall in profit is due to the decline in the net interest income of the bank. The bank has reported a 17.72 percent decrease in the net interest income that stands at Rs 2.74 Arba in the three months period.
The NPL of the bank has inclined to 1.37 percent while the base rate has declined to 10.56 percent.
As of Ashwin’s end 2080 BS, NIC Asia Bank has a paid-up capital of Rs 14.91 Arba with the reserve and surplus of Rs 15.22 Arba. The bank has amassed Rs 363.64 Arba as deposits from customers. Likewise, it has floated Rs 294.09 Arba as loans and advances to the customers.
The annualized Earnings Per Share (EPS) and per share net-worth stood at Rs 26.58 and Rs 202.05 respectively.
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The table below presents the summarized version of the unaudited first quarterly report published by NIC Asia Bank.
NIC Asia Bank Limited (NICA): First Quarterly Report Summary, FY 2080/81
| Financial Indicators | Q1, F.Y. 2080/81 | Q4, F.Y. 2079/80 | Percent Change |
| Paid-up capital (Rs. ‘Arba’) | 14.91 | 11.56 | 28.98 |
| Reserve and Surplus (Rs. ‘Arba’) | 15.22 | 17.82 | -14.59 |
| Deposits From Customers (Rs. ‘Arba’) | 363.64 | 311.36 | 16.79 |
| Loans & Advances To Customers (Rs. ‘Arba’) | 294.09 | 261.77 | 12.35 |
| Financial Indicators | Q1, F.Y. 2080/81 | Q1, F.Y. 2079/80 | Percent Change |
| Net Interest Income (Rs. ‘Arba’) | 2.74 | 3.33 | -17.72 |
| Operating Profit (Rs. ‘Arba’) | 1.54 | 2.52 | -38.89 |
| Net Profit (Rs. ‘Arba’) | 1.01 | 1.75 | -42.29 |
| Distributable Profit (Rs. ‘Arba’) | -0.98 | – | – |
| Non Performing Loans, NPL(%) | 1.37 | 0.59 | 132.20 |
| Base rate (%) | 10.56 | 10.67 | -1.03 |
| Earnings Per Share, EPS(Rs.) | 26.58 | ||
| Networth Per Share ( Rs.) | 202.05 | ||
| Market Price Per Share (Rs.) [Ashwin end, 2080 BS] | 517.2 | ||
| P/E Ratio | 19.46 |
Source: Unaudited Q1 report, FY 2080/81
Note:
The above figures are based on the unaudited first-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.
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