Core Business Revenue of NIFRA Reports a 60.88% Incline for Q2; Net Profit Increases By 73.09% To Stand At Rs. 76.61 Crores
Fri, Jan 20, 2023 11:27 AM on Latest, Financial Analysis, Stock Market,
Nepal Infrastructure Bank Limited (NIFRA) has published its Q2 report with an incline in net profit by an outstanding 73.09%. The net profit increased to Rs. 76.61 Crores in this quarter from Rs. 44.26 crores in the corresponding quarter of the previous year.
The paid-up capital of the company stood at Rs. 21.60 Arba and reserve and surplus stood at Rs. 1.66 Arba till Q2. The company decided to distribute a 4.2105% cash dividend on the paid-up capital of Rs. 21.60 Arba for the FY 2078/79. NIFRA reported distributable profit amounting to Rs. 60.41 Crores.
Likewise, the deposit from customers stood at Rs. 57.79 crores which had an incline of 71.12% in this quarter while loans and advances stood at Rs. 19.82 Arba, which has significantly increased from Rs. 8.13 Arba.
The net interest income (core business revenue) of the bank increased to Rs. 1.32 Arba in this quarter. The company also reported a reduction in impairment charges by 28.16%, which also contributed to an incline in net profit for Q2.
The bank’s EPS stood at Rs. 7.09 and its net worth per share stood at Rs. 107.73. The company traded at a P/E multiple of 32.14 times.
Major Highlights:
| Particulars (In Rs '000) | Nepal Infrastructure Bank Limited | ||
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 21,600,000.00 | 20,000,000.00 | 8.00% |
| Reserves and Surplus | 1,669,620.00 | 2,844,406.00 | -41.30% |
| Deposits | 577,954.00 | 337,749.00 | 71.12% |
| Loans & Advances | 19,823,095.00 | 8,136,478.00 | 143.63% |
| Net Interest Income | 1,324,948.00 | 823,556.00 | 60.88% |
| Personnel Expenses | 165,424.00 | 105,037.00 | 57.49% |
| Impairment Charges | 42,514.00 | 59,179.00 | -28.16% |
| Operating Profit | 1,094,515.00 | 632,321.00 | 73.09% |
| Net Profit | 766,160.00 | 442,648.00 | 73.09% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 604,108.00 | ||
| Capital Adequacy (%) | 94.85 | 177.84 | -46.67% |
| Cost of Fund (%) | 9.87 | 9.40 | 5.00% |
| EPS (In Rs.) | 7.09 | 4.43 | 60.26% |
| Net Worth per Share (In Rs.) | 107.73 | 114.22 | -5.68% |
| Qtr end PE Ratio (times) | 32.14 | - | - |
| Qtr End Market Price | 228 | - | - |
