Despite negative operating earnings Swarojgar Laghubitta reports increse in net profit; What pushed its profit higher?
Wed, Feb 3, 2021 7:29 AM on Latest, Company Analysis,
Swarojgar Laghubitta Bittiya Sanstha Limited (SLBBL) published the second-quarter report of FY 2077/2078 with 18.72% increment in Net Profit. As per the report published by the company, the net profit increased to Rs. 6.61 crores as compared to Rs. 5.57 crores in the corresponding quarter of the previous year.
The borrowings of the company increased by 25.91% to Rs. 1.96 Arba which was Rs. 1.55 Arba in the corresponding quarter of the previous year. The company’s loans and advances have also increased by 44.59 % to 4.77 Arba in this quarter.
The net interest income (core revenue) has increased by 1.04% to Rs. 13.57 crores compared to Rs. 13.43 crores in the corresponding quarter of the previous year.
Due to higher provision, the company reported negative operating earnings. However, the company wrote back Rs. 20.60 crores which pushed up the bottom line.
The paid-up capital of the company stood at Rs. 36.59 crores in this quarter and its reserve and surplus stood at Rs. 17.35 crores which is an increase of 73.52% in this quarter.
Its annualized earnings per share (EPS) stands at Rs. 36.17. The net worth per share is Rs. 147.44. The company traded at a P/E multiple of 33.73 times.
Major Highlights:
|
Particulars |
Swarojgar Laghubitta Bittiya Sanstha Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
365,937.12 |
341,612.12 |
7.12% |
|
Reserve & Surplus |
173,591.99 |
100,040.05 |
73.52% |
|
Borrowings |
1,963,680.74 |
1,559,548.35 |
25.91% |
|
Deposits |
2,225,776.77 |
1,550,645.98 |
43.54% |
|
Loans & Advances |
4,771,914.39 |
3,300,383.23 |
44.59% |
|
Net Interest Income |
135,763.55 |
134,369.28 |
1.04% |
|
Provision for possible Losses |
204,777.09 |
21,072.29 |
- |
|
Write Back of Provision |
206,027.63 |
6,051.42 |
- |
|
Net Profit |
66,186.07 |
55,751.35 |
18.72% |
|
Capital Adequacy (%) |
10.84% |
13.40% |
- |
|
NPL (%) |
2.79% |
1.32% |
- |
|
Cost of fund (%) |
7.62% |
10.22% |
- |
|
EPS (Rs.) |
36.17 |
32.64 |
- |
|
Net worth per share (Rs.) |
147.44 |
129.28 |
- |
|
Qtr end PE ratio (Times) |
33.73 |
- |
- |
|
Qtr End Market Price |
1220 |
- |
- |
