Muktinath Bikas Bank’s Net Profit Surges 43.44% to Rs. 32.24 Crores in Q1 FY 2083/84; Operating Profit Jumps 135.54%
Summary
Muktinath Bikas Bank reported a 43.44% rise in net profit to Rs. 32.24 crore in the first quarter of FY 2083/84, driven by a sharp drop in impairment charges and a 135.54% jump in operating profit. Deposits and loans also grew, while the bank’s NPL ratio edged up to 4.73%.
Key Points
- Muktinath Bikas Bank’s net profit rose 43.44% year-on-year to Rs. 32.24 crore in Q1 FY 2083/84.
- Operating profit jumped 135.54% to Rs. 75.63 crore, helped by a 74.97% fall in impairment charges.
- Deposits increased 2.20% and loans and advances grew 4.94% during the quarter.
- The bank’s NPL ratio rose to 4.73%, while cost of funds declined to 3.55%.
