Despite negative operating earnings what pushed the net profit of Suryodaya Laghubitta higher in Q2?
Fri, Feb 5, 2021 8:02 AM on Latest, Company Analysis,
Suryodaya Laghubitta Bittiya Sanstha Limited (SLBS) published the second-quarter report of FY 2077/2078 with 64.91% increment in Net Profit. As per the report published by the company, the net profit increased to Rs. 4.60 crores as compared to Rs. 2.79 crores in the corresponding quarter of the previous year.
The borrowings of the company increased by 36.92% to Rs. 1.87 arba which was Rs. 1.37 arba in the corresponding quarter of the previous year. The company’s loans and advances have also increased by 65.33% to 3.00 arba in this quarter.
The net interest income (core revenue) has increased by 61.62% to Rs. 12.04 crores compared to Rs. 7.42 crores in the corresponding quarter of the previous year. The company reported negative operative profit of Rs. 3.02 crores. However, it wrote back Rs. 10.33 crores which pushed the net profit higher.
The paid-up capital of the company stood at Rs. 21.50 crores in this quarter and its reserve and surplus stood at Rs. 16.15 crores which is an increase of 72.47% in this quarter.
Its annualized earnings per share (EPS) stands at Rs. 42.85. The net worth per share is Rs. 175.13. The company traded at a PE multiple of 32.09 times.
Major Highlights:
|
Particulars |
Suryodaya Laghubitta Bittiya Sanstha Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
215,042.93 |
155,919.00 |
37.92% |
|
Reserve & Surplus |
161,555.45 |
93,670.24 |
72.47% |
|
Borrowings |
1,877,243.58 |
1,371,035.12 |
36.92% |
|
Deposits |
1,301,870.36 |
764,932.25 |
70.19% |
|
Loans & Advances |
3,003,346.52 |
1,816,618.87 |
65.33% |
|
Net Interest Income |
120,449.62 |
74,527.22 |
61.62% |
|
Provision for possible Losses |
104,981.01 |
11,602.12 |
- |
|
Write Back of Provision |
103,396.21 |
4,680.21 |
- |
|
Net Profit |
46,070.64 |
27,937.30 |
64.91% |
|
Capital Adequacy (%) |
10.51% |
9.76% |
- |
|
NPL (%) |
3.14% |
1.31% |
- |
|
Cost of fund (%) |
6.84% |
9.38% |
- |
|
EPS (Rs.) |
42.85 |
35.84 |
- |
|
Net worth per share (Rs.) |
175.13 |
160.08 |
- |
|
Qtr end PE ratio (Times) |
32.09 |
- |
- |
|
Qtr End Market Price |
1375 |
- |
- |
