Muktinath Bikas Bank reported net profit of Rs 32 crore 24 lakh in the first quarter of fiscal year 2083/84, through the month of Asoj, marking a 43.44 percent rise from the same period a year earlier. The bank’s published financial statement showed profit had stood at Rs 22 crore 47 lakh in the first quarter of fiscal year 2082/83. The statement also recorded an increase in loans and advances to customers over the year, with the balance reaching Rs 1 kharba 5 arba 47 crore.
Profit rises from last year
The bank’s first-quarter net profit increased by Rs 9 crore 77 lakh compared with the corresponding period of the previous fiscal year, based on the amounts disclosed in its financial statements. The reported year-on-year growth was 43.44 percent.
The comparison covers the first quarter of the current fiscal year, 2083/84, through Asoj, and the equivalent period of fiscal year 2082/83. The figures therefore provide a comparison between the same reporting period in two consecutive fiscal years, rather than between full-year results.
Muktinath Bikas Bank disclosed the profit figures in its published financial statement. The statement gives the result for the quarter and the prior-year figure, allowing the change in reported net profit to be measured directly. No reason for the increase was included in the information provided with the figures, so the results do not establish which factors contributed to the higher profit.
Loans and advances increase
The bank’s loans and advances to customers stood at Rs 1 kharba 5 arba 47 crore in the first quarter of fiscal year 2083/84. That was an increase of Rs 4 arba 96 crore 45 lakh from the same period of the previous fiscal year, according to the published statement.
The disclosure presents the higher loan balance alongside the rise in quarterly net profit. It does not provide further details on the composition of the loans, the sectors receiving credit, or the terms of the lending. Nor does the information specify how the change in loans and advances related to the profit result.
Key figures from the first-quarter statement
- Net profit: Rs 32 crore 24 lakh in the first quarter of 2083/84.
- Net profit in the same period last year: Rs 22 crore 47 lakh.
- Year-on-year profit growth: 43.44 percent.
- Loans and advances: Rs 1 kharba 5 arba 47 crore.
- Increase in loans and advances: Rs 4 arba 96 crore 45 lakh compared with the same period a year earlier.
The published figures show growth in both net profit and customer loans and advances over the year-earlier quarter. The statement provides the reported totals and comparisons, but the information available does not include additional detail on other financial indicators or management’s explanation of the results.
