Laxmi Bank earns Rs 1.57 arba till Q4 with 33.44% growth; has capacity to distribute 12% dividend from last year profit

Wed, Aug 7, 2019 6:19 AM on Financial Analysis, Stock Market,

Laxmi Bank Limited (LBL) has published the fourth quarter report for FY 2075/76 with 33.44% growth in net profit.

The bank’s profit has increased from Rs 1.18 arba in the fourth quarter of the fiscal year 2074/75 to Rs 1.57 arba in the fourth quarter of the fiscal year 2075/76.

The bank’s deposit from customers increased by 21.63% to Rs 79.74 arba and also loans and advances to customers rises by 25.73% to Rs 75.22 arba till the fourth quarter. The net interest income (core business income) of the bank has increased by 30.54% to Rs 3.04 arba from Rs 2.33 arba of the corresponding quarter.

In the same quarter, the bank has Rs 1.15 arba as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. This means Laxmi Bank can distribute maximum 12% (approx.) dividend from this year profit if other regulatory requirements are not required. 

The bank’s paid up capital stands at Rs 8.92 arba with Rs 3.71 arba as its reserve and surplus. The Non-Performing Loan (NPL) of the bank stands at 1.11%.

In the fourth quarter, the EPS of the bank stands at Rs 17.67. The net worth per share stands at Rs 141.67 and qtr end PE ratio stands at 12.79 times.

Major Highlights:

 * Figure are of Immediate Previous Year Ending (Audited)

* Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but here we have taken number of shares as per Q4 end paid up capital.

Particulars (In Rs '000)

Laxmi Bank

Q4 2075/76

Q4 2074/75

Difference

Paid Up Capital

8,920,509

8,221,667

8.50%

Share Premium

 -  -  -

Retained Earnings

1,551,215

760,754

103.90%

Reserves

2,165,591

2,163,163

0.11%

Deposits from Customers

79,743,108

65,561,508

21.63%

Loans & Advances to customers

75,227,869

59,834,776

25.73%

Net Interest Income

3,044,641

2,332,292

30.54%

Impairment Charge/(Reversal)

-135,343

-314,882

-

Personnel Expenses

1,010,491

771,585

30.96%

Operating Profit

2,302,619

1,683,076

36.81%

Profit/(Loss) for the Year

1,576,000

1,181,091

33.44%

Total Comprehensive Income

1,526,084

720,138

111.92%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments

1,156,190

-

-

Capital Adequacy Ratio (CAR)

11.33

12.43

-8.85%

NPL

1.11

1.29

-13.95%

CCD (as per NRB Directives)

77.13

77.07

0.08%

Cost of Fund (%)

7.01

7.95

-11.82%

Base Rate (%)

10.31

11.48

-10.19%

EPS (In Rs.)

17.67

14.37

22.98%

Net Worth per Share (In Rs.)

141.67

135.56

4.50%

PE Ratio (times)

12.79

-

-