First Microfinance Q1 profit remains stagnant; Loan and Advances rises by 54.82%
Thu, Oct 21, 2021 9:45 AM on Financial Analysis, Latest,
First Microfinance Laghubitta Bittiya Sanstha (FMDBL) first to publish the first-quarter report of FY 2078/2079 with a meager 0.23% fall in Net Profit. As per the report published by the company, the net profit declined to Rs. 2.96 crores as compared to Rs. 2.97 crores in the corresponding quarter of the previous year.
The borrowings of the company increased by 62.53% to Rs. 9.66 Arba which was Rs. 5.94 Arba in the corresponding quarter of the previous year. The company’s loans and advances have also increased by 54.82% to 9.33 Arba in this quarter.
The net interest income (core revenue) has decreased by 9.17% to Rs. 4.79 crores compared to Rs. 5.27 crores in the corresponding quarter of the previous year.
The paid-up capital of the company increased to Rs. 96.44 crores in this quarter and its reserve and surplus stood at Rs. 20.36 crores which is an increase of 22.61% in this quarter.
Its annualized earnings per share (EPS) stand at Rs. 12.30. The new wroth per share is Rs. 121.11 and the company traded at a P/E multiple of 73.60 times.
Financial Highlights:
| Particulars (In Rs '000) | First Microfinance | ||
|---|---|---|---|
| Q1 2078/79 | Q1 2077/78 | Difference | |
| Paid Up Capital | 964,492.00 | 876,811.00 | 10.00% |
| Reserve & Surplus | 203,620.00 | 166,073.00 | 22.61% |
| Borrowings | 9,667,289.00 | 5,948,109.00 | 62.53% |
| Deposits | 0.00 | 0.00 | 0.00% |
| Loans & Advances | 9,338,123.00 | 6,031,768.00 | 54.82% |
| Net Interest Income | 47,918.00 | 52,757.00 | -9.17% |
| Staff Expenses | 6,518.00 | 5,481.00 | 18.92% |
| Provision for possible losses | 15,263.00 | 4,940.00 | - |
| Operating Profit | 47,060.00 | 47,168.00 | -0.23% |
| Write Back | 0.00 | 0.00 | - |
| Net Profit | 29,648.00 | 29,716.00 | -0.23% |
| Capital Adequacy (%) | 11.98 | 15.75 | -23.94% |
| NPL (%) | 0.00 | 0.00 | - |
| Cost of Fund (%) | 7.48 | 7.15 | 4.62% |
| Annualized EPS (In Rs.) | 12.30 | 13.56 | -9.30% |
| Net Worth per Share (In Rs.) | 121.11 | 118.94 | 1.83% |
| Qtr end PE Ratio (times) | 73.60 | - | - |
| Qtr End Market Price | 905 | - | - |
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