Net profit boosted by sharp drop in impairment charges despite decline in interest income.
Himalayan Bank Limited has published its unaudited financial results for the fourth quarter of the fiscal year 2081/82. According to the report, the bank’s net profit increased by 22.14% to Rs 1 arba 51 crore 25 lakh, compared to Rs 1 arba 23 crore 83 lakh in the same period last year.
Net interest income declined by 9.9% to Rs 10 arba 45 crore 66 lakh, while operating income dropped 4.73% to Rs 12 arba 51 crore. A significant factor behind the profit growth was a sharp 70.85% drop in impairment charges, which fell from Rs 5 arba 26 crore to Rs 1 arba 53 crore during the review period.
The bank’s non-performing loan (NPL) ratio increased from 4.98% to 7.28%. Deposits reached Rs 3 kharba 9 arba 15 crore, up 5.20%, while loans stood at Rs 2 kharba 32 arba 85 crore, an increase of 1.14%.
As of the end of the review period, the bank’s paid-up capital stood at Rs 21 arba 65 crore 66 lakh, and reserves were at Rs 23 arba 35 crore 99 lakh. The distributable profit was negative Rs 7 arba 10 crore. Earnings per share (EPS) rose by Rs 1.26 to Rs 6.98, and net worth per share was recorded at Rs 175.07.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
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