Global IME Laghubitta Posts Rs. 10.59 Crore Net Profit in Q2 with EPS at Rs 32.67; Core Revenue Up by 39.04%

Global IME Laghubitta Bittiya Sanstha Limieted (GILB) published its Second-quarter report of FY 2082/2083 with a decline in Net Profit by 10.51%. As per the report published by the company, the net profit declined to Rs. 10.59 crores as compared to Rs. 11.83 crores in the corresponding quarter of the previous year.

The deposits of the company increased by 6.74% to Rs. 3.85 Arba which was Rs. 3.61 Arba in the corresponding quarter of the previous year. The company’s loans and advances have also increased by 6.43% to 10.29 Arba in this quarter. The company’s net interest income surged by 39.04% to Rs. 48.76 crore from Rs. 35.07 crore in the same quarter last year. 

The company’s Capital Adequacy Ratio (CAR) has decreased to 9.53%, up from 10.26%. However, its Non-Performing Loan (NPL) ratio increased to 8.96%, from 4.10% in the previous fiscal year. The cost of funds also improved declining by 18.07% to 6.44% in this quarter.

The company’s Annualized Earnings Per Share (EPS) for the period stood at Rs. 32.67. The net worth per share remained steady at Rs. 197.29. The company’s Price-to-Earnings (P/E) ratio at the end of the quarter was 35.60 times, based on a market price of Rs. 1163 per share.

Report:

Major Financial Highlights:

* Figure is of Immediate Fiscal Year Ending
Particulars (In Rs '000) Global IME Laghubitta Bittiya Sanstha Limited
Q2 2082/83 Q2 2081/82 Difference
Paid Up Capital 648,297.80 618,900.05* 4.75%
Share Premium - - -
Retained Earnings and reserve 630,705.82 556,872.87* 13.26%
Deposits 3,853,990.82 3,610,588.61* 6.74%
Loans and Advances  10,299,834.94 9,677,234.01 6.43%
Net Interest Income 487,691.11 350,748.11 39.04%
Personal Expenses 173,289.17 166,027.02 4.37%
Impairment Charges/(Reversal) for loans and advances 161,164.04 27,638.26 483.12%
Operating Profit 152,212.30 169,067.04 -9.97%
Net Profit 105,905.61 118,339.93 -10.51%
Distributable Profit/(loss) after P/L Appropriation and Regulatory Adjustments 63,519.81 - -
Capital Adequancy(%) 9.53 10.26 -7.12%
Non-Performing Loan 8.96 4.10 118.54%
Cost of Fund 6.44 7.86 -18.07%
Annualized EPS (In Rs.) 32.67 38.24 -14.57%
Net Worth per Share (In Rs.) 197.29 189.98 3.85%
Qtr end PE Ratio (times) 35.60 - -
Qtr End Market Price 1163 - -