First Microfinance net profit decline by 5.68% to Rs 8.66 crore in Q3; Expected to face problem in liquidity and loan expansion due to COVID-19
Fri, May 1, 2020 8:06 AM on Corporate, Financial Analysis, Latest,
First Microfinance Laghubitta Bittya Sanstha (FMDBL) publish third quarter report of FY 2076/77 with 5.68% decline in net profit. According to the unaudited financial report for the third quarter, the microfinance has stated that its net profit decreased to Rs 8.66 crore as compared to Rs 9.18 crore in the corresponding.
The borrowing of the microfinance has increased from Rs 4.75 arba in the corresponding quarter of the previous year to Rs 5.68 arba till the third quarter of the current fiscal year with 19.60% growth.
Management Analysis of FMDBL:
The net interest income has decreased by 4.26% to Rs 13.87 crore from Rs 14.49 crore compared to the corresponding quarter of the last fiscal year. The microfinance company has an operating profit of Rs 13.73 crore.
First Microfinance’s paid-up capital stand at Rs 80.07 crore and its reserve & surplus stands at Rs 19.38 crore. The company average cost of funds increased to 9.47% in this quarter and its NPL is at Zero.
It’s annualized Earnings per Share (EPS) stands at Rs 14.43. The net worth per share is 124.21 and quarter end P/E ratio at Rs 28.76 times. The quarter end price of the stock is Rs 415.
Major Highlights:
|
Particulars (In Rs '000) |
First Microfinance |
||
|---|---|---|---|
|
Q3 2076/77 |
Q3 2075/76 |
Difference |
|
|
Paid Up Capital |
800,741.00 |
684,394.00 |
17.00% |
|
Reserve & Surplus |
193,840.00 |
189,255.00 |
2.42% |
|
Deposits |
|
|
|
|
Borrowings |
5,684,666.00 |
4,753,255.00 |
19.60% |
|
Loans & Advances |
5,570,945.00 |
5,185,282.00 |
7.44% |
|
Net Interest Income |
138,797.00 |
144,974.00 |
-4.26% |
|
Staff Expenses |
15,910.00 |
14,063.00 |
13.13% |
|
Provision for possible losses |
3,432.00 |
10,595.00 |
- |
|
Operating Profit |
137,329.00 |
144,403.00 |
-4.90% |
|
Net Profit |
86,671.00 |
91,893.00 |
-5.68% |
|
Capital Adequacy (%) |
17.79 |
17.22 |
3.31% |
|
NPL (%) |
0.00 |
0.00 |
|
|
Cost of Fund (%) |
9.47 |
9.25 |
2.38% |
|
Annualized EPS (In Rs.) |
14.43 |
17.90 |
-19.39% |
|
Net Worth per Share (In Rs.) |
124.21 |
127.65 |
-2.70% |
|
PE Ratio (times) |
28.76 |
- |
- |
|
Qtr End Price |
415 |
- |
- |
|
PB Ratio (times) |
3.3 |
- |
- |
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