Tinau Mission Development Bank Reports Profit Growth By 382 Percent
July 26, 2020 | Investopaper
Tinau Mission Development Bankhas reported a net profit of Rs 19.68 crores in the fiscal year 2076/77. This is 382 percent higher than the profit of the previous fiscal year. Last year, the development bank had earned Rs 4.08 crores.
The operating profit of the bank has surged by 125 percent to Rs 28 crores. The increase in profit is mainly due to the rise in the net interest income by almost 200 percent. Tinau Mission Development Bank earned Rs 65.30 crores in the fiscal year 2076/77. The profit available for distribution stands at Rs 11.30 crores.
The development bank has a current paid-up capital of Rs 181.31 crores with Rs 41.46 crores in reserve and surplus. Until the Ashad end , 2077, Tinau Mission Development Bank has collected Rs 16.06 Arba in deposits from the customers. Likewise, it has floated Rs 12.33 Arba in loans and advances.
The bank has reported an increase in Non Performing Loans ( NPL) by 350 percent. The NPL stands at 1.53 percent, up from 0.34 percent last year. Similarly, the base rate of the bank has declined to 9.75 percent.
At current capital, the Earnings Per Share (EPS) is Rs 10.85 while the per share networth is Rs 122.86. The last trading price of share (As of Ashad end, 2077) is Rs 175 which gives the stock the P/E ratio of 16.13. This indicates the company is faily priced in the stock market.
The financial highlights of Tinau Mission Development Bank is summarized in the table below:
Tinau Mission Development Bank, Fourth Quarter, Fiscal Year 2076/77
| Headings | 4th Qtr, F.Y. 2076/77 | 4th Qtr, F.Y. 2075/76 | Percent Change |
| Paid up capital(Rs.’crores’) | 181.31 | 114.42 | 58.46 |
| Reserve and Surplus(Rs.’crores’) | 41.46 | 32.52 | 27.49 |
| Deposits From Customers (Rs.’Arba’) | 16.06 | 10.6 | 51.51 |
| Loans & Advances To Customers (Rs.’Arba’) | 12.33 | 8.81 | 39.95 |
| Net Interest Income(Rs.’crores’) | 65.3 | 21.79 | 199.68 |
| Operating Profit (Rs.’crores’) | 28 | 12.46 | 124.72 |
| Net Profit (Rs.’crores’) | 19.68 | 4.08 | 382.35 |
| Distributable Profit (Rs.’crores’) | 11.3 | – | – |
| Non Performing Loans, NPL(%) | 1.53 | 0.34 | 350.00 |
| Base rate(%) | 9.75 | 12.19 | -20.02 |
| Earnings Per Share, EPS(Rs.) | 10.85 | ||
| Networth Per Share ( Rs.) | 122.86 | ||
| Market Price Per Share (Rs.) [Ashad end, 2077] | 175 | ||
| P/E Ratio | 16.13 |
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.
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About Tinau Mission Development Bank
Tinau Mission Development Bank started its operation from 15th Kartik, 2063 as a regional level development bank. The bank issued 3,00,000 shares in the public offering (IPO) on 3rd Bhadra, 2067.
The bank emerged after the successful merger of Tinau Development Bank Limited, Mission Development Bank Limited and acquisition of Nepal Community Development Bank Ltd in 2076.
Pradip Kumar Shrestha is leading the bank as the Chief Executive Officer (CEO). Similarly, Jeevan Prasad Ojha chairs the board of directors of the bank.
