Higher provision led to negative operating earnings for Swarojgar Laghubitta in Q1; Net Profit supported by write back of provisions
Thu, Nov 12, 2020 8:05 AM on Latest, Company Analysis,
Swarojgar Laghubitta Bittiya Sanstha (SLBBL) has published its first-quarter report of FY 2077/2078 with an increase in Net Profit by 23.03%. As per the report published by the company, the net profit increased to Rs. 3.45 crores as compared to Rs. 2.80 crores in the corresponding quarter of the previous year.
The borrowings of the company decreased by 0.76% to Rs. 1.61 Arba which was Rs. 1.62 Arba in the corresponding quarter of the previous year. The company’s loans and advances increased by 27% to Rs. 4.03 Arba in this quarter.
The net interest income (core revenue) has decreased by 33.99% to Rs. 4.52 crores compared to Rs. 6.84 crores in the corresponding quarter of the previous year. The company reported negative operating earnings of Rs. 14.41 crore because of higher provision for losses in this quarter. Despite negative operating earnings, the company wrote back Rs. 19.67 crores which pushed the Net profit up to positive.
The paid-up capital of the company stood at Rs. 36.59 crores in this quarter and its reserve and surplus stood at Rs. 12.91 crores which is a decrease of 15.79%.
Its annualized earnings per share (EPS) stands at Rs. 37.77. The net worth per share stood at Rs. 135.28. The company traded at a P/B multiple of 6.21 times.
Financial Highlights:
|
Particulars |
Swarojgar Laghubitta Bittiya Sanstha Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
365,937.12 |
269,512.21 |
35.78% |
|
Reserve & Surplus |
129,110.20 |
153,310.84 |
-15.79% |
|
Borrowings |
1,616,416.56 |
1,628,745.29 |
-0.76% |
|
Deposits |
1,987,785.78 |
1,389,796.49 |
43.03% |
|
Loans and Advances |
4,038,570.98 |
3,179,928.00 |
27.00% |
|
Net Interest Income |
45,206.81 |
68,481.37 |
-33.99% |
|
Provision for possible losses |
166,725.11 |
10,879.24 |
- |
|
Operating Profit |
-144,113.82 |
40,440.32 |
-456.36% |
|
Net Profit |
34,556.96 |
28,088.97 |
23.03% |
|
Capital Adequacy Ratio (%) |
11.77% |
13.25% |
- |
|
NPL (%) |
4.76% |
0.98% |
- |
|
Cost of Fund (%) |
6.62% |
10.17% |
- |
|
Annualized EPS (In Rs.) |
37.77 |
41.69 |
-9.39% |
|
Net Worth per share (In Rs.) |
135.28 |
156.88 |
-13.77% |
|
Price to earnings (times) |
6.21 |
- |
- |
