Summit Microfinance Development Bank Limited (SMFDB) has posted diminish in net profit by 20.17 percent in the first quarter (Q1) of the FY 2074/75.
Publishing the unaudited financial report for the first quarter today, the microfinance company stated that its net profit decrease to Rs 82.05 lakh in the current fiscal year 2074/75, down from Rs 1.02 crore in the corresponding period of the previous fiscal year 2073/74.
Its paid up capital remains at Rs 14.50 crore (including 100% right shares) with reserve of Rs 8.96 crore in Q1. It had announced 34.48% bonus shares and 10.52% cash dividend from the net profit of FY 2073/74. After 34.48% bonus share, its paid up capital will reach to Rs 17 crore.
The company has borrowings of Rs 69.24 crore in the first quarter, up from Rs 43.36 crore in the corresponding quarter. Likewise, it has extended loans and advances of Rs 1.26 arba in Q1 whereas in the same period last year the figure stood at Rs 86.76 crore.
Its non-performing loan (NPL) has decreased to 0.33 % in Q1 from 0.39 % in the previous year report.
Its annualized earning per share (EPS) stands at Rs 22.63, net worth per share at Rs 161.85 and the P/E ratio at 184.22 times.
Major Highlights:
| Particulars (In Rs '000) |
SMFDB |
| Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
145,000 |
72,500 |
100.00% |
| Reserve & Surplus |
89,688 |
47,538 |
88.67% |
| Deposits |
489,956 |
352,198 |
39.11% |
| Borrowings |
692,415 |
433,636 |
59.68% |
| Loans & Advances |
1,262,862 |
867,648 |
45.55% |
| Net Interest Income |
26,013 |
25,938 |
0.29% |
| Provision for possible losses |
587 |
403 |
45.66% |
| Operating Profit |
12,894 |
16,151 |
-20.17% |
| Net Profit |
8,205 |
10,278 |
-20.17% |
| NPL (%) |
0.33 |
0.39 |
-15.38% |
| Annualized EPS (In Rs.) |
22.63 |
56.71 |
-60.08% |
| Net Worth per Share (In Rs.) |
161.85 |
165.57 |
-2.24% |
| P/E Ratio (In times) |
184.22 |
- |
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