Net profit rises by over 45,000% as impairment charges fall sharply.
Kumari Bank Limited has published its unaudited financial results for the fourth quarter of fiscal year 2081/82. According to the report, the bank’s net profit rose dramatically by 45,831%, reaching Rs. 2 arba 11 crore, compared to just Rs. 46 lakh in the same period last year.
The exceptional growth in net profit was primarily driven by a significant drop in impairment charges. The bank’s impairment charge fell from Rs. 6 arba 84 crore in the previous fiscal year to Rs. 2 arba 80 crore in the current review period, contributing substantially to the profit surge.
Financial Performance
During the review period, Kumari Bank’s net interest income increased by 6.95%, reaching Rs. 11 arba 55 crore. Similarly, the operating income rose by 10.98%, totaling Rs. 15 arba 13 crore. Impairment charges, which had been a major drag in the previous year, were notably reduced to Rs. 2 arba 80 crore from Rs. 6 arba 84 crore.
However, the bank’s Non-Performing Loan (NPL) ratio increased by 0.46 percentage points, reaching 6.42%.
Deposit and Loan Portfolio
As of the end of Q4, Kumari Bank has collected Rs. 3 kharba 64 arba 64 crore in deposits and has disbursed Rs. 2 kharba 60 arba 95 crore in loans.
Capital & Profitability
The bank’s paid-up capital stands at Rs. 26 arba 23 crore. While the distributable profit remains negative at Rs. 2 arba 79 crore, the bank holds Rs. 13 arba 86 crore in its reserve fund.
The Earnings Per Share (EPS) has increased by Rs. 8.05, reaching Rs. 8.07. The Net Worth Per Share stands at Rs. 142.19.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
