Kathmandu. Krishi Bikas Bank Limited has earned a net profit of Rs. 485.37 million in the first quarter of the current fiscal year. The bank's unaudited financial statements released on Sunday showed a 5.18 percent increase in profit over the same period last fiscal year. The bank had earned a net profit of Rs 461.469 million in the corresponding period of the previous fiscal year.

 The bank's net interest income has increased by 27.30 percent. Similarly, the bank has earned 2.12 percent more income from operating profit. The distributable profit of the bank is Rs. 24.5 million.

Despite the increase in profit, the bank's earnings per share has decreased from Rs 15.90 to Rs 1.20 and reached Rs 14.70. As of mid-October, the bank's price-to-earnings ratio stood at 34.55 times.