Corporate Development Bank (CORBL) has released its unaudited financial results for the fourth quarter of the fiscal year 2080/81, showcasing an extraordinary 2838.36% increase in net profit. The bank’s net profit soared to Rs 1.78 Crores, a remarkable rise from Rs 6.07 Lakhs in the same period last year.
CORBL’s financial standing remains robust, with a paid-up capital of Rs 52.5 Crores, a share premium of Rs 2.39 Crores, retained earnings of Rs 4.45 Crores, and reserves amounting to Rs 17.63 Crores. Despite a slight 6.44% drop in net interest income, the bank achieved a notable reduction in impairment charges by 20.44%.
The bank saw a significant surge in deposits by 45.08%, reaching Rs 1.82 Arba, while loans and advances grew by 10.80%, totaling Rs 1.26 Arba.
CORBL’s annualized earnings per share (EPS) rose to Rs 3.40, with a high price-earnings (P/E) ratio of 172.52 times and a net worth per share of Rs 146.64.
Report Highlights:
- Paid-Up Capital: Rs 52.5 Crores
- Share Premium: Rs 2.39 Crores
- Retained Earnings: Rs 4.45 Crores
- Reserves: Rs 17.63 Crores
- Deposits: Rs 1.82 Arba (45.08% increase)
- Loans & Advances: Rs 1.26 Arba (10.80% increase)
- Net Interest Income: Rs 83.96 Lakhs (6.44% decrease)
- Personnel Expenses: Rs 17.46 Lakhs (8.95% decrease)
- Impairment Charges: Rs 32.51 Lakhs (20.44% decrease)
- Operating Profit: Rs 25.52 Lakhs (27.46% increase)
- Net Profit: Rs 1.78 Crores (2838.36% increase)
- Capital Adequacy: 38.65%
- Cost of Fund: 7.71%
- Annualized EPS: Rs 3.40
- Net Worth per Share: Rs 146.64
- PE Ratio: 172.52 times
- Qtr End Market Price: Rs 586.9