Higher Provision Leads to Decline in Net Profit of Civil Laghubitta by 64.34% in Q2; EPS at Rs. 9.29 & NPL rises to 2.93%
Thu, Feb 2, 2023 12:34 PM on Latest, Financial Analysis, Stock Market,
Civil Laghubitta Bittiya Sanstha (CLBSL) has reported a 64.34% decline in its net profit for Q2 of FY 2079/2080 compared to the corresponding quarter of the previous fiscal year.
CLBSL has published an unaudited financial report for the second quarter today. It has stated that net profit has decreased to Rs. 1.33 crores in the second quarter of 2079/2080 from Rs. 3.7 crores reported in the corresponding quarter of the previous year.
The distributable profit of the company stands at Rs. 67.72 Lakhs. The company proposed an 11% bonus shares and 0.58% cash dividend (tax purposes) for the FY 2078/79. Since the book closure date for the dividend is not yet announced, the 11% bonus dividends are yet to be capitalized by the company.
Civil Laghubitta’s Net Interest Income decreased by 10.93% in Q2, 2079/2080, and stood at Rs. 10.55 crores. Due to the higher provision created by the company for the possible losses, the profit shrunk slightly which caused the operating profit to decrease by 37.58% compared to the corresponding quarter of the previous year.
The company has a borrowing of Rs. 2.71 Arba. Likewise, it has floated loans of Rs. 4.21 Arba which is an increase of 9.22% compared to the corresponding quarter of the previous year. The company has collected a deposit of Rs. 1.07 till the second quarter of 2079/2080.
Its paid-up capital stands at Rs. 28.81 crores with a reserve and surplus of Rs. 17.01 crores. The annualized earnings per share (EPS) stands at Rs. 9.29 and net worth per share stands at Rs. 159.06. The Qtr. end P/E ratio stood at 100.97 times.
Major Highlights:
| Particulars (In Rs '000) | Civil Laghubitta | ||
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 288,124.44 | 288,124.44 | 0.00% |
| Share Premium | 45,543.05 | 45,543.05 | 0.00% |
| Retained Earnings | 43,588.03 | 36,815.17 | 18.40% |
| Reserves | 81,044.34 | 74,986.26 | 8.08% |
| Borrowings | 2,710,635.87 | 2,512,628.18 | 7.88% |
| Deposits from Customers | 1,071,546.40 | 977,839.02 | 9.58% |
| Loans and Advances to Customers | 4,211,790.34 | 3,856,211.51 | 9.22% |
| Net Interest Income | 105,511.31 | 118,454.94 | -10.93% |
| Personnel Expenses | 73,977.61 | 75,116.95 | -1.52% |
| Impairment Charges | 13,570.37 | 5,650.95 | 140.14% |
| Operating Profit | 288,124.44 | 461,576.94 | -37.58% |
| Net Profit | 13,382.76 | 37,533.21 | -64.34% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 6,772.87 | ||
| Capital Adequacy (%) | 10.85 | 10.79 | 0.56% |
| NPL (%) | 2.93 | 1.33 | |
| Cost of Fund (%) | 11.48 | 8.27 | 38.81% |
| Annualized EPS (In Rs.) | 9.29 | 26.05 | -64.34% |
| Net Worth per Share (In Rs.) | 159.06 | 154.61 | 2.88% |
| Qtr end PE Ratio (times) | 100.97 | - | - |
| Qtr End Market Price | 938.00 | - | - |
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