Higher Impairment Results Just 1.76% Increment in Net Profit of Laxmi Bank in Q4; Distributable Profit Stands at Rs 1.25 Arba
Sun, Jul 24, 2022 8:39 AM on Latest, Financial Analysis, Stock Market,
Laxmi Bank Limited (LBL) has published the fourth quarter report for FY 2078/79 with a mere 1.76% growth in net profit.
The bank’s profit has increased from Rs 1.57 arba in the fourth quarter of the fiscal year 2077/78 to Rs 1.60 arba in the fourth quarter of the fiscal year 2078/79.
The bank’s deposits from customers increased by 19.67% to Rs 1.37 Kharba and also loans and advances to customers rises by 21.66% to Rs 1.28 Kharba till the fourth quarter. The net interest income (core business income) of the bank has increased by 18.27% to Rs 4.08 arba from Rs 3.45 arba in the corresponding quarter.
In the same quarter, the bank has Rs 1.25 arba as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders
The bank’s paid-up capital stands at Rs 11.55 arba with Rs 4.25 arba as its reserves and Rs 1.25 in retained earnings. The Non-Performing Loan (NPL) of the bank stands at 0.89%.
In the fourth quarter, the EPS of the bank stands at Rs 13.88. The net worth per share stands at Rs 147.69 and the qtr end PE ratio stands at 14.34 times.
Major Financial Highlights
| Particulars (In Rs '000") | Laxmi Bank | ||
|---|---|---|---|
| Q4 2078/79 | Q4 2077/78 | Difference | |
| Share Capital | 11,551,345 | 10,695,690 | 8.00% |
| Share Premium | 0 | 0 | |
| Retained Earnings | 1,255,201 | 1,262,938 | -0.61% |
| Reserves | 4,253,804 | 4,938,133 | -13.86% |
| Deposits from Customers | 137,147,381 | 114,605,492 | 19.67% |
| Loans & Advances to customers | 128,001,269 | 105,213,372 | 21.66% |
| Net Interest Income | 4,088,396 | 3,456,840 | 18.27% |
| Impairment Charge/(Reversal) | 518,500 | 492,214 | 5.34% |
| Personnel Expenses | 1,798,342 | 1,573,586 | 14.28% |
| Operating Profit | 2,284,686 | 2,236,089 | 2.17% |
| Profit/(Loss) for the Year | 1,603,571 | 1,575,761 | 1.76% |
| Total Comprehensive Income | 209,313 | 3,150,169 | -93.36% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 1,255,201 | ||
| Capital Adequacy Ratio (CAR) | 12.76 | 12.15 | 5.02% |
| NPL | 0.89 | 0.75 | 18.67% |
| CD (as per NRB Directives) | 88.99 | 79.66 | 11.71% |
| Cost of Fund (%) | 7.62 | 4.61 | 65.29% |
| Interest Rate Spread (%) | 3.94 | 3.42 | 15.20% |
| Base Rate (%) | 9.99 | 7.08 | 41.10% |
| EPS (In Rs.) | 13.88 | ||
| Net Worth per Share (In Rs.) | 147.69 | ||
| Qtr End PE Ratio (times) | 14.34 | ||
| Qtr End Market Price | 199 | ||
