Kathmandu. Nepal Infrastructure Bank Limited (NIFRA) has published its financial statements for the third quarter of the current fiscal year. According to the report, the net profit of the bank has decreased significantly compared to the same period of the last FY.

The bank earned a net profit of Rs 64.33 crore in the first half of the current FY, down 28.53 percent from the same period last year. The bank had posted a net profit of Rs 90.74 crore in the same quarter last year.

The decline in the net interest income and operating profit of the bank led to a decline in profit. In the review period, net interest income decreased by 27.03 percent while net fee and commission income increased by 66.35 percent.

Similarly, total operating income decreased by 26.20 percent and operating profit by 28.42 percent. Distributable profit also declined by 30.12 percent to Rs 53.77 crore. The bank’s earnings per share have also been affected due to the decline in profit. Earnings per share declined by Rs 1.59 to Rs 3.97 in the review period.

As of mid-April, the bank has a net worth of Rs 115.84 and P/E ratio of 67.44 times. The bank has paid-up capital of Rs 21.60 billion and reserve fund of Rs 3.42 billion. As of mid-April, the bank collected deposits of Rs 7.80 billion and extended loan of Rs 28.54 billion.