Nepal Infrastructure Bank (NIFRA) Reports 15.02% Decrease in Q3 Net Profit; Impairment Charge Surges by 339.74%, Net Interest Income Declines
Fri, Apr 19, 2024 11:01 AM on Latest, Financial Analysis, Company Analysis,
Nepal Infrastructure Bank Limited (NIFRA) has disclosed its third-quarter fiscal report for 2080/81, unveiling a 15.02% decrease in net profit, falling to Rs. 98.73 crores from Rs. 1.16 Arba compared to the corresponding quarter in the previous year.
The bank maintains a total paid-up capital of Rs. 21.6 Arba and reserves and surplus reaching Rs. 2.59 Arba.
NIFRA's core operations depict deposits from customers standing at Rs. 99.10 crores and loans and advances reaching Rs. 20.48 Arba. Notably, there's a substantial rise in impairment charges by 339.74%.
Key indicators of the bank's core business revenue show a minimal 2.57% decrease in net interest income, reaching Rs. 1.95 Arba in this quarter. Meanwhile, personnel expenses experienced a decline of 14.04%, and operating profit witnessed a substantial fall, decreasing by 14.99% to Rs. 1.41 Arba.
In terms of financial metrics for the third quarter, NIFRA reported an annualized EPS of Rs 6.09, with net worth per share standing at Rs 110.65.
| Particulars (In Rs '000) | Nepal Infrastructure Bank Limited | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 21,600,000.00 | 21,600,000.00 | 0.00% |
| Reserves and Surplus | 2,301,358.00 | 1,985,830.00 | 15.89% |
| Deposits | 991,072.00 | 796,851.00 | 24.37% |
| Loans & Advances | 20,482,541.00 | 22,084,062.00 | -7.25% |
| Net Interest Income | 1,952,877.00 | 2,004,403.00 | -2.57% |
| Personnel Expenses | 215,373.00 | 250,543.00 | -14.04% |
| Impairment Charges | 286,035.00 | 65,047.00 | 339.74% |
| Operating Profit | 1,410,983.00 | 1,659,770.00 | -14.99% |
| Net Profit | 987,373.00 | 1,161,839.00 | -15.02% |
| Capital Adequacy (%) | 93.61 | 93.43 | 0.19% |
| Cost of Fund (%) | 7.65 | 7.65 | 0.00% |
| Annualized EPS (In Rs.) | 6.09 | 7.17 | -15.02% |
| Net Worth per Share (In Rs.) | 110.65 | 109.19 | 1.34% |
| Qtr end PE Ratio (times) | 34.46 | - | - |
| Qtr End Market Price | 210 | - | - |
