Kisan Microfinance's net profit for Q1 2076/77 goes down by 57%; Provision for possible losses increases massively to Rs 71.93 lakh
Sun, Nov 10, 2019 11:02 AM on Financial Analysis, Latest, Stock Market,
Kisan Microfinance Bittiya Sanstha Limited (KMFL) has reported a fall in net profit for the first quarter of FY 2076/77.
Publishing the unaudited financial report for the first quarter, the microfinance company stated that its net profit decreased to Rs 35.94 lakh in the Q1 of fiscal year 2076/77, down from Rs 85.48 lakh in the corresponding period of the previous fiscal year 2075/76. The fall in operating profit and net profit of the company can be explained via the 308% rise in provision for possible losses.
Its net interest income has increased from Rs 2.24 crore in the corresponding quarter to Rs 2.80 crore in the first quarter.
Its paid-up capital remains at Rs 8.60 crore with a reserve of Rs 5.22 crore till Q1.
The company has borrowings of Rs 1.01 arba till the first quarter, up from Rs 90.33 crore in the corresponding quarter. Likewise, it has extended loans and advances of Rs 1.39 arba till Q1 whereas in the same period last year the figure stood at Rs 1.19 arba.
Its annualized earning per share (EPS) stands at Rs 16.71 and net worth per share at Rs 160.81. The PE ratio as per the financial report stands at 49.64 times.
Major highlights
| Particulars (In Rs '000) | Kisan Laghubitta | ||
|---|---|---|---|
| Q1 2076/77 | Q1 2075/76 | Difference | |
| Paid Up Capital | 86,009 | 76,402 | 12.57% |
| Reserve & Surplus | 52,299 | 22,917 | 128.21% |
| Borrowings | 1,012,089 | 903,396 | 12.03% |
| Deposits | 400,182 | 291,289 | 37.38% |
| Loans & Advances | 1,391,536 | 1,190,898 | 16.85% |
| Net Interest Income | 28,012 | 22,482 | 24.60% |
| Staff Expenses | 19,573 | 17,748 | 10.28% |
| Provision for possible losses | 7,193 | 1,762 | 308.23% |
| Operating Profit | 5,024 | 13,029 | -61.44% |
| Net Profit | 3,594 | 8,548 | -57.96% |
| Capital Adequacy (%) | 10.06 | 8.09 | 24.35% |
| NPL (%) | 0.96 | 1.05 | -8.57% |
| Cost of Fund (%) | 9.8 | 9.2 | 6.52% |
| Annualized EPS (In Rs.) | 16.71 | 44.75 | -62.65% |
| Net Worth per Share (In Rs.) | 160.81 | ||
| PE Ratio (times) | 49.64 | ||
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