Despite reporting positive operating income, City Express reported net loss in Q2; What ate up most of its operating income?
Fri, Jan 22, 2021 9:46 AM on Latest, Company Analysis,
City Express Finance Company Limited (CEFL) reported a net loss of Rs. (37.90) Lakhs in the second quarter of the fiscal year 2077/78.
Its net interest income decreased to Rs. 45.04 lakhs till Q2 from Rs. 1.11 Crores in the corresponding quarter previous year. The bank has collected deposits of Rs. 14.17 crores while it has mobilized loans and advances of Rs. 8.90 crores till Q2.
Even though the company reported positive operating profit, its operating expenses ate up most of the net operating income leading to negative bottom line.
City Express Finance has a paid-up capital of Rs. 40.00 crores and reserve stood at Rs. (13.69) Crore.
The Earnings per Share (annualized) stood at Rs. -0.95 and net worth per share stands at Rs. 65.75. The Company traded at a P/B multiple of 1.54 times.
(Note: The company has successfully entered into an acquisition with Nepal Investment Bank Limited (NIB) and will be commence its operation in the name of Nepal Investment Bank Limited (NIB))
Major Highlights:
|
Particulars |
City Express Finance Company Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
400,000.00 |
400,000.00 |
- |
|
Share Premium |
4,798.00 |
4,798.00 |
- |
|
Retained Earnings |
-252,380.00 |
-245,613.00 |
2.76% |
|
Reserves |
110,591.00 |
130,084.00 |
-14.98% |
|
Deposit from Customers |
141,752 |
128,768 |
10.08% |
|
Loans & Advances |
89,080.00 |
125,497.00 |
-29.02% |
|
Net Interest Income |
4,504.00 |
11,189.00 |
-59.75% |
|
Impairment Charge/(Reversal) for loans |
-380.00 |
-4,577.00 |
-91.70% |
|
Operating Profit |
15,137 |
16701 |
-9.36% |
|
Net Profit |
-3,790.00 |
-532.00 |
- |
|
Capital Adequacy (%) |
138.55% |
123.15% |
- |
|
NPL (%) |
0.00% |
0.00% |
- |
|
Cost of fund (%) |
6.72% |
5.61% |
- |
|
EPS (Rs.) |
-0.95 |
- |
- |
|
Net worth per share (Rs.) |
65.75 |
72.32 |
- |
|
Qtr end PB ratio (Times) |
1.54 |
- |
- |
|
Qtr End Market Price |
101 |
- |
- |
