Karnali Development Bank Limited (KRBL) has announced its unaudited financial results for the third quarter of fiscal year 2080/81, showcasing a noteworthy upswing in net profit and Earnings Per Share (EPS).
In the third quarter of the ongoing fiscal year, KRBL recorded a remarkable net profit of Rs. 2.88 Crores, marking a substantial 66.18% surge compared to the corresponding period last fiscal year, where the net profit stood at Rs. 1.73 Crores. This impressive growth in profit can be attributed to a reduction in impairment charges, despite a decline in net interest income.
Despite experiencing an 18.46% reduction in interest income, KRBL witnessed a significant 66.18% rise in operating profit, primarily fueled by the decrease in impairment charges. However, the bank reported a negative distributable profit of Rs. 2.5 Crores during this period.
Furthermore, KRBL’s per-share earnings displayed an upward trend, with the annualized EPS reaching Rs. 7.64 for the review period. The bank’s price-earnings (P/E) ratio currently stands at 53.67 times, while the net worth per share is reported at Rs. 105.75.
Investors and stakeholders can delve into the detailed unaudited financial statement provided by KRBL for comprehensive insights into the bank’s financial performance.