Kathmandu. Sixteen development banks have made public their financial statements for the first quarter of the current fiscal year. According to the financial statement, out of 16 companies, three companies are in loss and the remaining 13 companies are in profit. Muktinath Development Bank has earned the highest profit out of 16 companies. The bank has earned a net profit of Rs 345.58 million. This is an increase of 17 percent over the first quarter of last year.

The company had earned a profit of Rs 294.1 million in the first quarter of last year. Similarly, the highest distributable profit of this company is Rs. 956.3 million. According to the NFRS system, the profit after distribution is different from the net profit earned by the company under various headings. Similarly, the company's earnings per share has reached Rs 28.73.

Similarly, in the second, Mahalakshmi Development Bank raised Rs. It has earned a profit of Rs 235 million. In terms of percentage, Karnali Development Bank's profit has increased the most in the first quarter of the current fiscal year.

The company's profit has increased by 558 percent in the corresponding period of the previous year as compared to the same period last year. The company had a net profit of Rs. The profit has increased to Rs. 22.7 million in the corresponding period of the previous year. Narayani Development Bank, Sindhu Development Bank and Saptakoshi Development Bank have incurred losses in the first quarter of the current fiscal year.

Out of these three banks, Saptakoshi Development Bank had a loss of Rs. 111 million in the first quarter of the current fiscal year. Similarly, Sindhu Development Bank has incurred a loss of Rs. 66.69 million and Narayani Development Bank has incurred a loss of Rs. 911,000.

Similarly, out of the 16 companies that released their first quarter financial statements, Corporate Development Bank, Narayani Development Bank and Green Development Bank did not mention distributable profit.