Kumari Bank Reports Rs. 2.11 Billion Net Profit in Q4; EPS Rises to Rs. 8.07

Kumari Bank Limited has published its unaudited financial report for the fourth quarter of fiscal year 2080/81, showing a massive year-on-year surge in net profit — a staggering 45,829% increase compared to the previous year.

According to the newly released report, the bank earned a net profit of NPR 2.11 Arba. In contrast, the previous year's profit was reported as just NPR 46 lakh, resulting in an exaggerated percentage growth.

However, the bank had already published a report last year stating its net profit for the same period (end of Ashad 2080) was NPR 2.30 Arba. This contradiction stems from adjustments in impairment charges between the reports. Last year's impairment charge was reported as NPR 3.56 Arba, but the newly published report has revised that figure to NPR 6.84 Arba.

A similar discrepancy is visible in the earnings per share (EPS) figures. As per the current report, EPS stands at NPR 8.07, a sharp rise from just 2 paisa last year. Yet, last year’s official report had already shown EPS at NPR 8.80, indicating that EPS has actually declined in this period.