Kathmandu: Jyoti Development Bank has earned a net profit of Rs 217.8 million in the first quarter of the current fiscal year. This profit is 65.64% more than last year. Last year, the bank had earned a profit of Rs 131.5 million. Meanwhile, the bank's net interest income and operating profit increased by 59.57% and 65.64% respectively.

 The bank, which earned net interest income of Rs 315.8 million last year, has increased it to Rs 504 million in the quarter. The bank's operating profit has also increased from Rs 187.8 million to Rs 311.2 million. As of mid-October, the bank's distributable profit stood at Rs 39 million.

 The bank has raised Rs 48.82 billion in deposits and invested Rs 47.55 billion in loans so far this quarter. Its non-performing loans (NPLs) increased slightly to 0.68%. Bad debt was 0.65% last year. The cost of funds is 6.40%. The bank's earnings per share stood at Rs 22.66 (annualized) and net worth per share at Rs 142.97.