Corporate Development Bank Reports 642.12% Growth in Net Profit for Q1 of FY 2079/80; NPL Stands at 4.69% & Annualized EPS at Rs. 6.86
Wed, Nov 2, 2022 11:23 AM on Latest, Financial Analysis, Stock Market,
Corporate Development Bank Limited (CORBL) has reported net profit of Rs. 85.74 Lakhs for the first quarter of the fiscal year 2079/80. As per the unaudited first quarterly report published today, the development bank’s profit was Rs. 11.55 lakh in the corresponding quarter of the FY 2078/79. The net profit of the company has increased by massive 642.12% in this quarter.
It earned Rs 1.88 crore as net interest income which has increased by 142.69% from Rs. 77.66 Lakhs in the corresponding quarter of previous year.
The paid-up capital stands at Rs 50 crore, and at this capital the annualized EPS of the company stood at Rs. 6.86, whereas the Non-Performing loan (NPL) stood at 4.69% and the CAR stood at 148.49%. Likewise, the net worth of the company stood at Rs. 144.64 and the P/E ratio stood at 37.76 times for the first quarter of F.Y 2079/80.
Major Financial Highlights:
| Particulars (In Rs '000") | Corporate Development Bank | ||
|---|---|---|---|
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Share Capital | 500,000 | 500,000 | 0.00% |
| Share Premium | 23,921 | 23,921 | 0.00% |
| Retained Earnings | 67,461 | 57,859 | 16.60% |
| Reserves | 131,813 | 131,815 | 0.00% |
| Deposits from Customers | 1,073,880 | 786,361 | 36.56% |
| Loans & Advances to customers | 944,959 | 937,341 | 0.81% |
| Net Interest Income | 18,847 | 7,766 | 142.69% |
| Other Operating Income | 286 | 1,938 | -85.24% |
| Impairment Charge/(Reversal) | -731 | 2,538 | -128.82% |
| Personnel Expenses | 5,226 | 3,396 | 53.91% |
| Operating Profit | 12,248 | 1,650 | 642.12% |
| Profit/(Loss) for the Year | 8,574 | 1,155 | 642.12% |
| Total Comprehensive Income | 8,574 | 1,155 | 642.30% |
| Capital Adequacy Ratio (CAR) | 148.49 | 59.10 | 151.25% |
| NPL | 4.69 | 4.65 | 0.86% |
| CCD (as per NRB Directives) | 87.99 | 119.2 | -26.18% |
| Cost of Fund (%) | 9.23 | 9.51 | -2.94% |
| Interest Rate Spread (%) | 4.95 | 4.2 | 17.86% |
| Base Rate (%) | 12.85 | 14.05 | -8.54% |
| Annualized EPS (In Rs.) | 6.86 | 0.92 | 642.12% |
| Net Worth per Share (In Rs.) | 144.64 | 142.72 | 1.35% |
| Qtr End PE Ratio (times) | 37.76 | - | - |
| Qtr End Market Price | 259 | - | - |
