Garima Bikas Bank Limited (GBBL) has reported a 4.17% decline in net profit for the first quarter of FY 2083/84, with profit standing at Rs. 24.01 Crores compared to Rs. 25.06 Crores in the corresponding quarter of the previous fiscal year. The bank's paid-up capital increased by 10% to Rs. 6.62 Arba, while reserves grew by 4.27% to Rs. 36.04 Crores. Retained earnings declined sharply by 93.10% to Rs. 8.33 Crores.
During the quarter, total deposits increased by 3.11% to Rs. 1.02 Kharba, while loans and advances grew by 2.57% to Rs. 80.23 Arba. Net Interest Income declined by 7.79% to Rs. 92.08 Crores. Personnel expenses decreased marginally by 1.24% to Rs. 29.32 Crores, while impairment charges fell by 23.68% to Rs. 25.43 Crores. Operating profit declined by 4.34% to Rs. 34.21 Crores.
Garima Bikas Bank's distributable profit after profit/loss appropriation and regulatory adjustments stood at Rs. 8.33 Crores, down 86.83% from Rs. 63.22 Crores in the corresponding quarter. The bank's capital adequacy ratio stood at 12.84%, while the Non-Performing Loan (NPL) ratio increased slightly to 4.81% from 4.73%. The cost of funds declined significantly to 3.46% from 4.42%.
The bank's Earnings Per Share (EPS) stood at Rs. 14.50, down from Rs. 16.65 in the corresponding quarter, while net worth per share declined by 12.27% to Rs. 155.68 from Rs. 177.45. Garima Bikas Bank's quarter-end PE ratio stood at 28.62 times, while its quarter-end market price was Rs. 415 per share.
* Figures are of Immediate Previous Year Quarter Ending
