Support Laghubitta Shines in Q3: Net Profit Soars 94.90% to Rs. 1.23 Crores; Core Revenue Up 8.78%
Wed, Apr 24, 2024 11:13 AM on Financial Analysis, Company Analysis, Latest,
In its recently disclosed third-quarter report for the fiscal year 2080/2081, Support Laghubitta Bittiya Sanstha Limited (SMB) demonstrated commendable financial performance, witnessing a substantial 94.90% increase in net profit, surging from Rs. 63.31 lakhs to Rs. 1.23 crores compared to the corresponding quarter last year.
The company experienced a notable 8.78% rise in core revenue (net interest income) to Rs. 4.91 crores from Rs. 4.5 crores in the same quarter of the previous year, contributing significantly to the growth in net profits.
Moreover, borrowings surged by 30.34% to Rs. 1.27 Arba, while loans and advances saw a notable uptick of 24.02%, reaching Rs. 1.73 Arba during this quarter.
During Q3, SMB reported impairment charges amounting to Rs. 10.09 Lakhs.
SMB's financial position revealed a paid-up capital of Rs. 9.52 crores, with reserves and surplus standing at Rs. 5.79 crores.
The annualized earnings per share (EPS) was reported at Rs. 17.28, with the net worth per share recorded as Rs. 160.80. Notably, SMB traded at a P/E multiple of 77.97 times during the period.
| Particulars (In Rs '000) | Support Laghubitta | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 95,238.00 | 95,238.00 | 0.00% |
| Reserve & Surplus | 57,907.33 | 36,575.78 | 58.32% |
| Deposits | 339,116.50 | 287,829.35 | 17.82% |
| Borrowings | 1,277,959.94 | 980,449.72 | 30.34% |
| Loans & Advances to MFIs & Cooperatives | 1,732,603.85 | 1,397,023.61 | 24.02% |
| Net Interest Income | 49,181.08 | 45,210.37 | 8.78% |
| Staff Expenses | 40,041.94 | 32,990.19 | 21.38% |
| Provision for possible losses | 1,009.42 | 0.00 | - |
| Operating Profit | 13,333.13 | 6,035.27 | 120.92% |
| Net Profit | 12,340.45 | 6,331.74 | 94.90% |
| EPS (In Rs.) | 17.28 | 8.86 | 94.90% |
| Net Worth per Share (In Rs.) | 160.80 | 138.40 | 16.18% |
| Qtr end PE Ratio (times) | 77.97 | - | - |
| Qtr End Market Price | 1347 | - | - |
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