Laxmi Sunrise Bank Reports 420.53% Surge in Net Profit for Q1 FY 2081/82, Impairment Charges Down by 45.59%
Wed, Oct 23, 2024 6:36 AM on Financial Analysis, Company Analysis, Latest,
Laxmi Sunrise Bank Limited (LSL) has reported a massive 420.53% rise in net profit for the first quarter of FY 2081/82, totaling Rs 53.63 Crores.
The bank's total paid-up capital stands at Rs 23.18 Arba, supported by reserves of Rs 17.27 Arba and retained earnings of Rs 1.49 Arba.
The bank's total deposits increased by 1.68% to Rs 3.34 Kharba, while loans and advances to customers reached Rs 2.58 Kharba. However, Net Interest Income declined by 6.75%, amounting to Rs 2.67 Arba. Personnel expenses were recorded at Rs 1.03 Arba, while impairment charges saw a sharp decline of 45.59%, totaling Rs 1.16 Arba.
Key financial metrics for the quarter show an Annualized Earnings Per Share (EPS) of Rs 9.25, with a net worth per share of Rs 180.95. The bank faced an increase in Non-Performing Loans (NPL) to 5.44%, while its distributable profit stood at Rs 1.49 Arba.
* Figures are of Immediate Previous Year Quarter Ending
Major Highlights:
| Particulars (In Rs '000) | Laxmi Sunrise Bank Limited | ||
|---|---|---|---|
| Q1 2081/82 | Q1 2080/81 | Difference | |
| Paid Up Capital | 23,187,155.00 | 23,187,155.00* | 0.00% |
| Retained Earnings | 1,490,950.00 | 1,287,179.00* | 15.83% |
| Reserves | 17,278,011.00 | 16,288,987.00* | 6.07% |
| Deposits | 334,459,929.00 | 328,931,512.00* | 1.68% |
| Borrowings | 3,701,466.00 | 3,980,637.00* | -7.01% |
| Loan and advances to Customers | 258,160,033.00 | 250,365,316.00* | 3.11% |
| Net Interest Income | 2,672,735.00 | 2,866,105.00 | -6.75% |
| Personnel Expenses | 1,035,174.00 | 766,060.00 | 35.13% |
| Impairment Charges | 1,167,991.00 | 2,146,521.00 | -45.59% |
| Operating Profit | 756,938.00 | 144,116.00 | 425.23% |
| Net Profit | 536,359.00 | 103,041.00 | 420.53% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 1,490,950.00 | 1,061,060.00 | 40.52% |
| Capital Adequacy (%) | 12.71 | 12.85 | -1.09% |
| NPL% | 5.44 | 4.69 | 15.99% |
| Cost of Fund (%) | 5.64 | 8.25 | -31.64% |
| Annualized EPS (In Rs.) | 9.25 | 1.78 | 420.53% |
| Net Worth per Share (In Rs.) | 180.95 | 175.80 | 2.93% |
| Qtr end PE Ratio (times) | 28.92 | ||
| Qtr End Market Price | 267.6 | - | - |
