Summit Laghubitta reports 99% rise in provision for loan loss with NPL of 2.82%; Net profit for Q1 2076/77 at Rs 1.35 crore
Wed, Nov 13, 2019 11:01 AM on Financial Analysis, Latest, Stock Market,
Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has published its first quarter (Q1) report of FY 2076/77. The microfinance has reported a net profit of Rs 1.35 crore, which is a 25.70% rise from the corresponding quarter of the previous year.
Similarly, its net interest income has also increased from Rs 3.43 crore in the corresponding quarter of the previous year to Rs 4.23 crore in the first quarter of 2076/77. Its paid-up capital remains at Rs 21 crore with reserve and surplus of Rs 11.81 crore.
The company has borrowings of Rs 56.02 crore in the first quarter, falling from Rs 83.35 crore in the corresponding quarter of last year. Likewise, it has extended loans and advances of Rs 1.63 arba till Q1 whereas in the same period last year the figure stood at Rs 1.62 arba.
Its non-performing loan (NPL) has increased to 2.82% in Q1 from 0.91% in the previous year report.
Its annualized earning per share (EPS) stands at Rs 25.83, net worth per share at Rs 156.25. Its quarter-end PE stands at 78.04.
Major Highlights:
| Particulars (In Rs '000) | Summit Laghubitta | ||
|---|---|---|---|
| Q1 2076/77 | Q1 2075/76 | Difference | |
| Paid Up Capital | 210,000 | 170,000 | 23.53% |
| Reserve & Surplus | 118,118 | 102,162 | 15.62% |
| Deposits | 773,080 | 654,009 | 18.21% |
| Borrowings | 560,266 | 833,556 | -32.79% |
| Loans & Advances | 1,631,029 | 1,620,098 | 0.67% |
| Net Interest Income | 42,338 | 34,309 | 23.40% |
| Staff Expenses | 20,054 | 19,319 | 3.80% |
| Provision for possible losses | 2,676 | 1,341 | 99.55% |
| Operating Profit | 21,312 | 16,955 | 25.70% |
| Net Profit | 13,562 | 10,789 | 25.70% |
| Capital Adequacy (%) | 18.73 | 15.93 | 17.58% |
| NPL (%) | 2.82 | 0.91 | 209.89% |
| Cost of Fund (%) | 9.9 | 10.4 | -4.81% |
| Annualized EPS (In Rs.) | 25.83 | 25.39 | 1.76% |
| Net Worth per Share (In Rs.) | 156.25 | ||
| Qtr End PE Ratio (times) | 78.04 | ||
