Kathmandu. Nepal Infrastructure Bank (NIFRA) has earned a net profit of Rs 40.99 crore in the first quarter of the current FY.

The profit was 36.15 percent lower than the corresponding period of the previous FY. The bank had posted a net profit of Rs 64.19 crore in the same quarter last year.

During this period, the company’s net interest income and operating profit declined. This has had an impact on profits.

The bank’s net interest income declined by 29.09 percent to Rs 74.07 crore. The operating profit of the bank decreased by 36.04 percent to Rs 58.65 crore. During the period, the bank’s distributable profit declined by 33.37 percent to Rs 34.78 crore.

The bank’s earnings per share declined by Rs 2.15 to Rs 3.80 and net worth per share was Rs 114.75. The bank with Rs 21.6 crore in paid-up capital has reserve fund of Rs 3.18 billion.

As of mid-January 2018, the bank collected deposit of Rs 8.11 billion and extended loans of Rs 27.41 billion.