Laxmi Sunrise Bank Limited (LSL) has released its unaudited financial report for the first quarter of the fiscal year 2082/83. According to the report, the bank has earned a distributable profit of NPR 2.62 billion during the period, with a distributable earnings per share (EPS) of NPR 10.78.
The bank’s net profit declined by 38.04%, reaching NPR 332.3 million in the first quarter of the current fiscal year, compared to NPR 536.3 million during the same period last year.
Although net interest income saw a modest rise, a significant increase in impairment charges led to a decline in profitability. During the review period, net interest income rose by 1.59%, fee and commission income by 26.59%, and total operating income by 14.80%. However, operating profit dropped by 42.11%, as impairment charges surged from NPR 1.16 billion to NPR 1.93 billion.
Along with the decline in profit, the bank’s earnings per share (EPS) also fell by NPR 3.79, reaching NPR 5.46. As of the end of Ashoj, the bank’s net worth per share was NPR 184.89, while its price-to-earnings (P/E) ratio stood at 39.74 times.
Published by Laxmi Sunrise Bank on 2082-7-21
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