Sangrila Development Bank Ltd. has reported a 53.94% year-on-year increase in net profit for the second quarter of FY 2082/83. According to the bank’s unaudited financial statement, net profit reached Rs 30 crore 25 lakh, up from Rs 19 crore 65 lakh in the same period last year.
The growth in profit was primarily driven by an increase in net interest income and total operating income. As of the second quarter, net interest income rose by 18.49% to Rs 1 arba 8 crore 80 lakh, while total operating income increased by 19.46% to Rs 1 arba 25 crore 72 lakh. Operating profit surged by 59.33%, reaching Rs 45 crore 13 lakh.
Asset quality showed some deterioration during the review period, with the non-performing loan (NPL) ratio rising by 1.88 percentage points to 6.87%.
During the period, the bank mobilized Rs 54 arba 39 crore 24 lakh in deposits and extended loans totaling Rs 44 arba 40 crore 83 lakh. As of Poush-end, the bank’s distributable profit stood at Rs 9 crore 46 lakh, providing a dividend capacity of 5.07%.
The bank’s paid-up capital is Rs 3 arba 73 crore 40 lakh, with retained earnings of Rs 9 crore 46 lakh and reserves totaling Rs 1 arba 89 crore 33 lakh. Earnings per share (EPS) increased by Rs 4.75 to Rs 16.21, while net worth per share reached Rs 153.24. The bank’s price-to-earnings (P/E) ratio is 24.78 times.
Additionally, during the review period, the base rate was 6.17% and the loan-to-deposit ratio stood at 83.55%.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
