Mahalaxmi Bikas Bank Limited has reported increased in net profit by 26.31 percent in the fourth quarter of this fiscal year 2074/75.
As per the published report, the development bank has reported increased in net profit to Rs.56.11 crore in this Q4 from Rs.44.42 crore in the corresponding quarter of last fiscal year 2073/74.
During the period the bank has collected deposit of Rs.27.27 arba & floated in loan & advances of Rs.21.65 arba. In the corresponding quarter of last year the bank had collected deposit of Rs. 25.13 arba & floated in loan & advances Rs.20.72 arba..
Its net interest income increased to Rs.1.07 arba from Rs.77.89 crore in the last corresponding quarter. Operating profit decreased by 21.75% to Rs.10.07 crore from Rs.12.65 crore in the last year.
The bank is able to write back huge amount of Rs.70.56 crore from provision of possible losses. So, Net profit increased despite of fall in operating profit.
Its paid up capital is Rs.2.63 arba with reserves of Rs.1.34 arba. Reserve surged by 31.02% in the Q4.
Its non performing loan stands at 3.88 percent from 3.63 percent from the last year.
Annualized earning per share is Rs.21.31 & net worth per share is Rs.154.30. PE ratio stands at 8.02 times.
