Despite reporting negative core business revenue, what boosted its net profit of Samriddhi Finance in Q2?
Wed, Jan 27, 2021 9:12 AM on Latest, Company Analysis,
Samriddhi Finance Company Limited (SFCL) reported a Net Profit of Rs. 1.67 crores. The company reported net loss in corresponding quarter of previous year.
It reported negative net interest income (core business revenue) in Q2. Despite reporting negative revenue, the company wrote back Rs. 3.34 crores of provision in Q2 leading to positive net revenue.
Despite reporting increase in net interest income, the company had to bear huge interest expense leading to negative net interest income.
The bank has collected deposits of Rs. 32.25 crores while it has mobilized loans and advances of Rs. 24.64 crores till Q2 of FY 2077/2078.
Samriddhi Finance has a paid-up capital of Rs. 40.38 crores and reported negative reserve of Rs. 13.87 Crores.
The Earnings per Share (annualized) stood at Rs. 8.27 and net worth per share stands at Rs. 65.64. The Company traded at a P/E multiple of 19.46 times.
Major Highlights:
|
Particulars |
Samriddhi Finance Company Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
403,869.00 |
181,980.00 |
121.93% |
|
Reserve & Surplus |
-138,784.00 |
-91,665.00 |
- |
|
Deposit from Customers |
322,514 |
118,336 |
172.54% |
|
Loans & Advances |
246,465 |
603 |
- |
|
Net Interest Income |
-1,683.00 |
1,754.00 |
- |
|
Impairment Charge/(Reversal) for loans |
-33,409.00 |
-1,805.00 |
- |
|
Operating Profit |
8,128 |
-8,786.00 |
- |
|
Net Profit |
16,703.00 |
-8,786.00 |
- |
|
Capital Adequacy (%) |
36.17% |
12.00% |
- |
|
NPL (%) |
31.93% |
100.00% |
- |
|
Cost of fund (%) |
7.08% |
2.80% |
- |
|
EPS (Rs.) |
8.27 |
-9.66 |
- |
|
Net worth per share (Rs.) |
65.64 |
49.63 |
- |
|
Qtr end PE ratio (Times) |
19.46 |
- |
- |
|
Qtr End Market Price |
161 |
- |
- |
