Kisan Laghubitta Reports Rs. 2.27 Crores Net Profit in Q3 Despite Slight Decline in Core Revenue, Distributable Profit at Rs. 3.23 Crores
Thu, May 9, 2024 11:53 AM on Latest, Financial Analysis, Company Analysis,
Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) has unveiled its third-quarter financial report for the fiscal year 2080/2081, demonstrating a remarkable surge in net profit. The company disclosed an impressive 251.59% increase, with net profit soaring to Rs. 2.27 crores from Rs. 64.66 lakhs compared to the corresponding quarter of the previous year.
While KLBSL's core revenue experienced a decline of 13.44%, reaching Rs. 16.11 Crores from Rs. 18.61 Crores in the same quarter of the previous year, borrowings witnessed an increase of 14.10% to Rs. 5 Arba.
Loans and advances, on the other hand, saw a slight uptick of 9.76%, reaching Rs. 6.8 Arba during the third quarter. Similarly, deposits fell by 2.35% amounting to Rs. 1.31 Arba.
During Q3, KLBSL reported a reversal in impairment charges totaling Rs. 3.78 crores. This played a pivotal role in driving the surge in net profit for the period.
In terms of financial position, KLBSL showcased a paid-up capital of Rs. 50.43 Crores, accompanied by reserves and surplus standing at Rs. 13.04 Crores and retained earnings of Rs. 3.23 Crores.
KLBSL reported a distributable profit of Rs. 3.23 Crores. However, the annualized earnings per share (EPS) stood impressively at Rs. 6.01, accompanied by a net worth per share recorded as Rs. 132.26.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Kisan Laghubitta | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 504,366.47 | 504,366.47* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 32,301.14 | 16,992.49* | 90.09% |
| Reserves | 130,425.26 | 164,772.40* | -20.85% |
| Deposits | 1,315,724.89 | 1,347,385.86* | -2.35% |
| Loans & Advances to Customers | 6,808,108.37 | 6,202,870.60* | 9.76% |
| Borrowings | 5,005,097.48 | 4,386,528.82* | 14.10% |
| Net Interest Income | 161,151.67 | 186,174.90 | -13.44% |
| Personnel Expenses | 172,489.75 | 164,250.94 | 5.02% |
| Impairment Charges (reversal) | -37,834.54 | 29,974.00 | - |
| Operating Profit | 33,658.73 | 2,937.29 | 1045.91% |
| Net Profit | 22,734.26 | 6,466.10 | 251.59% |
| Distributable Profit | 32,301.14 | 0.00 | - |
| Capital Adequacy (%) | 9.43 | 9.40 | 0.32% |
| NPL (%) | 6.47 | 5.96 | 8.56% |
| Cost of Fund (%) | 11.20 | 12.16 | -7.89% |
| EPS (In Rs.) | 6.01 | 1.71 | 251.59% |
| Net Worth per Share (In Rs.) | 132.26 | 136.04 | -2.77% |
| Qtr end PE Ratio (times) | 147.59 | - | - |
| Qtr End Market Price | 887 | - | - |
