Kamana Sewa Bikas Bank’s net profit increased by 2.7 times in the third quarter

Kathmandu, April 18

Kamana Sewa Bikas Bank Ltd. has increased its profit in the third quarter of the current fiscal year as compared to the previous fiscal year.

As per the financial statement published on Sunday, the company’s profit has increased by 172 percent i.e. 2.7 times in the current fiscal year as compared to the third quarter of the previous fiscal year.

In the third quarter of last year, the company earned a net profit of Rs. 21 crore 54 lakh 90 crore, while in the current year’s third quarter the company has earned a net profit of Rs. 58 crore 61 lakh. The company’s profit has increased this year due to the increase in net interest income and operating profit of the company. Compared to the third quarter of last year, the company’s net interest income has increased by 25 percent and operating profit by 95 percent in the current fiscal year.

The company’s distributable profit for the third quarter of the current year was Rs. 38 crore 88 lakh 97 thousand. The company’s paid-up capital is Rs. 2 arba 65 crore 19 lakh 63 thousand. In the reserve fund, Rs. 77 crore 68 lakh 53 thousand and more than Rs. 39 crore 92 lakh has been reserved in retained earning.

In the second quarter of the current fiscal year, the company’s profit has increased and its earnings per share has also increased. In the third quarter of last year, the company’s earnings per share stood at Rs. 11.31 whereas, in the current year of third quarter the company’s earnings per share has reached to Rs. 29.47. Similarly, the price-to-earnings ratio of the company has reached 11.94, the liquidity ratio has reached 20.23 percent and the net worth per share has reached 144.35.