Aviyan Laghubitta (AVYAN) Publishes Q3 Report for FY 2079/80 with Net Loss of Rs. 1.21 Crores; NPL Climbs to 4.61 %
Thu, May 18, 2023 10:22 AM on Latest,
Aviyan Laghubitta Bittiya Sanstha Limited (AVYAN) has published its third-quarter report with a Net Loss of Rs. 1.21 crores compared to profit of Rs. 1.02 crores that the company had earned up to the corresponding quarter of the past fiscal year.
The Net Interest income, which is the mode of core revenue for microfinance companies, has declined by 18.26 % to reach Rs. 3.28 crores up to the third quarter of Q3 of the ongoing fiscal year.
Similarly, a huge increase can be witnessed in the Non-Performing Loans (NPL) of 4.61 % up to the third quarter of FY 2079/80 compared to only 0.45% in the corresponding quarter of FY 2078/79, which has negatively affected the profitability of the company.
The Cost of Funds has more than doubled to climb to 13.90% in Q3 of the ongoing fiscal year.
The staff expenses of the financial institution have spiked by 94.13 % to balloon to Rs. 5.31 crores up to the third quarter contrary to Rs. 2.73 crores up to the corresponding quarter of the previous FY.
The company maintains a paid-up capital of Rs. 25 crores while having Rs. 2.19 crores in the form of reserve and surplus.
AVYAN has a negative Earnings per Share (EPS) ratio of Rs. -6.50 and a Net worth of Rs. 108.79.
The closing price of the company’s shares at the end of the third quarter of the ongoing fiscal year was Rs 619.9.
Major Financial Highlights:
| Particulars (In Rs '000) | Aviyan Laghubitta | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 250,000.00 | 152,500.00 | 63.93% |
| Reserve & Surplus | 21,972.24 | 815.24 | 2595.19% |
| Deposits | 263,316.60 | 168,909.05 | 55.89% |
| Borrowings | 1,300,133.37 | 1,123,695.07 | 15.70% |
| Loans & Advances | 1,913,437.47 | 1,518,056.33 | 26.05% |
| Net Interest Income | 32,883.22 | 40,229.29 | -18.26% |
| Staff Expenses | 53,123.73 | 27,364.88 | 94.13% |
| Provision for possible loss | 92,120.07 | 17,834.39 | 416.53% |
| Operating Profit | -124,259.50 | 11,974.32 | |
| Net Profit/Loss | -12,180.56 | 10,207.08 | - |
| Capital Fund to RWA (%) | 14.14 | 10.54 | 34.16% |
| NPL (%) | 4.61 | 0.45 | 924.44% |
| Cost of Funds (%) | 13.90 | 4.24 | 227.83% |
| EPS (In Rs.) | -6.50 | 13.39 | - |
| Net Worth per Share (In Rs.) | 108.79 | 100.53 | 8.21% |
| Qtr End Market Price | 619.9 | - | - |
