Aatmanirbhar Laghubitta Reports Net Profit Decline By 71.52% as Surge in Impairment Charges Takes Toll
Mon, Apr 29, 2024 10:26 AM on Latest, Financial Analysis, Company Analysis,
Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) has unveiled its third-quarter financial report for the fiscal year 2080/81, revealing a decline in net profit. The company recorded a net profit of Rs. 1.27 Crores, marking a notable 71.52% decrease compared to the Rs. 4.46 crores reported in the corresponding quarter of the previous fiscal year.
In the current quarter, ANLB's deposits remained stable at Rs. 84.57 Crores, while loans and advances surged by 14.09%, reaching Rs. 1.46 Arba.
However, the core revenue represented by net interest income (NII) witnessed a 6.17% downturn, amounting to Rs. 8.64 Crores in the current quarter, compared to Rs. 9.21 Crores in the same quarter of the previous fiscal year.
During the third quarter, ANLB reported a troubling development as impairment charges surged dramatically by 887.27%, amounting to Rs. 13.2 Crores.
Regarding its financial structure, ANLB reported a paid-up capital of Rs. 6.85 Crores, complemented by reserves totaling Rs. 19.8 Crores.
The annualized earnings per share (EPS) stands at Rs. 24.70, with the net worth per share reported at Rs. 388.86. Notably, the Non-Performing Loans (NPL) witnessed a significant increase of 54.86%, resulting in a ratio of 11.94%.
Major Financial Highlights:
| Particulars (In Rs '000) | Aatmanirbhar Laghubitta | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 68,571.80 | 62,338.00 | 10.00% |
| Reserve & Surplus | 198,079.67 | 210,006.01 | -5.68% |
| Deposits | 845,714.79 | 839,493.46 | 0.74% |
| Borrowings | 131,969.70 | 85,303.02 | 54.71% |
| Loans & Advances | 1,460,022.93 | 1,279,671.20 | 14.09% |
| Net Interest Income | 86,490.82 | 92,175.35 | -6.17% |
| Staff Expenses | 31,399.43 | 26,538.97 | 18.31% |
| Impairment Charges | 132,024.26 | 13,372.64 | 887.27% |
| Operating Profit | -70,602.50 | 55,174.51 | -227.96% |
| Net Profit | 12,705.15 | 44,605.92 | -71.52% |
| EPS (In Rs.) | 24.70 | 95.41 | -74.11% |
| Net Worth per Share (In Rs.) | 388.86 | 436.88 | -10.99% |
| Capital Adequacy (%) | 16.54 | 19.11 | -13.45% |
| NPL (%) | 11.94 | 7.71 | 54.86% |
| Cost of Fund (%) | 7.60 | 7.42 | 2.43% |
