Jyoti Vikas Bank Limited (JBBL) has unveiled its unverified financial results for the third quarter of FY 2082/83, showing a significant turnaround in its bottom line. The bank’s net profit soared to Rs. 62.94 crores, up from Rs. 30.66 crores in the same period last year—a staggering growth of 105.30%. This profit boost was primarily driven by a sharp reduction in impairment charges, which plummeted from Rs. 52.16 crores to Rs. 11.84 crores, alongside a 55.36% rise in total operating income. However, the report highlights underlying credit quality concerns as the bank’s Non-Performing Loan (NPL) ratio rose significantly from 4.98% to 7.83%. Furthermore, while the net profit is impressive, the bank’s distributable profit is currently Rs. 43.48 crores in the negative, indicating a constrained capacity for immediate dividend payouts. On the brighter side, the bank's Earnings Per Share (EPS) saw a healthy jump to Rs. 19.43, with a net worth per share standing at Rs. 163.43.
JBBL Q3 Report: Net Profit Doubles to Rs. 62.94 Crores Amid Falling Impairment Charges.
Jyoti Vikas Bank (JBBL) has reported a remarkable 105.30% year-on-year increase in net profit, totaling Rs. 62.94 crores for the third quarter of the current fiscal year. Despite the surge in earnings and EPS, the bank's distributable profit remains at a negative Rs. 43.48 crores, and Non-Performing Loans (NPL) have climbed to 7.83%.
Published By Share Gyan
