Jeevan Bikas Laghubitta Records 32.87% Drop in Q2 Net Profit, Core Revenue Decline and Marginal Increase in Deposits
Fri, Feb 9, 2024 10:00 AM on Financial Analysis, Company Analysis, Latest,
In its recently released second-quarter report for the fiscal year 2080/2081, Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB) recorded a notable decline of 32.87% in net profit. The net profit for this quarter dropped to Rs. 17.76 crore, down from Rs. 26.47 crore in the same period last year.
Despite the decline in net profit, the company saw a marginal increase of 0.10% in deposits, reaching Rs. 10.04 Arba. However, there was a 7.61% decrease in loans and advances, which totaled Rs. 24.53 Arba in this quarter.
The core revenue, represented by net interest income, experienced a 6.80% reduction, amounting to Rs. 74.04 Crores, compared to Rs. 79.45 Crores in the corresponding quarter of the previous year.
Key financial indicators for the quarter include a paid-up capital of Rs. 1.34 Arba, reserves at Rs. 1.23 Arba, and retained earnings of Rs. 63.11 Crores. The annualized earnings per share (EPS) stands at Rs. 26.38, with a net worth per share of Rs. 238.57. The company is currently trading at a P/E multiple of 51.17 times.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Jeevan Bikas Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 1,347,518.90 | 1,182,034.20* | 14.00% |
| Retained Earnings | 631,160.28 | 682,964.56* | -7.59% |
| Reserves | 1,236,151.50 | 1,250,441.14* | -1.14% |
| Deposits | 10,042,143.91 | 10,031,794.04* | 0.10% |
| Loans & Advances to Customers | 24,536,130.95 | 22,801,112.33* | 7.61% |
| Net Interest Income | 740,475.67 | 794,510.72 | -6.80% |
| Personnel Expenses | 346,439.84 | 322,999.85 | 7.26% |
| Impairment Charges | 277,937.67 | 159,352.47 | 74.42% |
| Operating Profit | 253,942.86 | 378,269.51 | -32.87% |
| Net Profit | 177,760.01 | 264,788.66 | -32.87% |
| Capital Adequacy (%) | 10.99 | 12.54 | -12.36% |
| NPL (%) | 2.95 | 2.83 | 4.24% |
| Cost of Fund (%) | 9.89 | 10.22 | -3.23% |
| Annualized EPS (In Rs.) | 26.38 | 44.80 | -41.11% |
| Net Worth per Share (In Rs.) | 238.57 | 263.57 | -9.48% |
| Qtr end PE Ratio (times) | 51.17 | - | - |
| Qtr End Market Price | 1350 | - | - |
