Muktinath Bikas Bank Limited has reported a 43.44% growth in net profit for the first quarter of FY 2083/84, reaching Rs. 32.24 Crores compared to Rs. 22.48 Crores in the corresponding quarter of the previous fiscal year. The bank's paid-up capital remained unchanged at Rs. 8.00 Arba, while reserves increased by 8.61% to Rs. 46.38 Crores. Retained earnings declined by 8.90% to Rs. 6.16 Crores.
During the quarter, total deposits increased by 2.20% to Rs. 1.26 Kharba, while loans and advances grew by 4.94% to Rs. 1.05 Kharba. Net Interest Income increased by 2.71% to Rs. 1.22 Arba. Personnel expenses rose by 6.93% to Rs. 37.51 Crores, while impairment charges declined sharply by 74.97% to Rs. 13.55 Crores. Operating profit surged by 135.54% to Rs. 75.63 Crores.
Muktinath Bikas Bank's distributable profit after profit/loss appropriation and regulatory adjustments stood at Rs. 61.56 Crores, compared to Rs. 1.22 Arba in the corresponding quarter. The bank's capital adequacy ratio stood at 12.86%, while the Non-Performing Loan (NPL) ratio increased to 4.73% from 4.03%. The cost of funds declined significantly to 3.55% from 4.46%.
The bank's Earnings Per Share (EPS) increased by 43.44% to Rs. 16.12 from Rs. 11.24 in the corresponding quarter, while net worth per share increased by 2.38% to Rs. 165.67 from Rs. 161.82. Muktinath Bikas Bank's quarter-end PE ratio stood at 21.34 times, while its quarter-end market price was Rs. 344 per share.
* Figures are of Immediate Previous Year Quarter Ending
