Nadep Laghubitta reports 43% fall in net profit for Q4 of FY 2075/76; EPS stands at Rs 10.73 and NPL at 4.21%

Tue, Sep 17, 2019 11:43 AM on Financial Analysis, Latest, Stock Market,
Nadep Lagh...

Nadep Laghubitta Bittiya Sanstha Limited (NADEP) net profit decline by 43.01% in the last quarter of the fiscal year 2075/76.

As per the fourth quarter report published today, the microfinance company’s net profit and operating profit have decreased by 43.01% and 58.10% to Rs 2.69 crore from Rs 4.72 crores and Rs 2.87 crores from 6.85 crore respectively in the corresponding quarter of the previous FY 2074/75.

The net profit decline due to mass provision for possible losses of Rs 7.03 crore and its NPL rises to 4.21% till Q4.

The company collected Rs 1.13 arba from deposits and has borrowings of Rs 2.30 arba while it was able to float Rs 3.96 arba as loans and advances during the fourth quarter.

The paid-up capital of the company stands at Rs 36.80 crore with Rs 18.43 crore as a reserve.

The annualized EPS stands at Rs 7.32.

Major Highlights:

Particulars (In Rs '000) Nadep Laghubitta
Q4 2075/76 Q4 2074/75 Difference
Paid Up Capital 368,000.00 160,000.00 130.00%
Reserve & Surplus 184,370.65 158,345.94 16.44%
Deposits 1,132,697.95 836,934.90 35.34%
Borrowings 2,302,649.85 2,035,494.31 13.12%
Loans & Advances 3,967,710.35 2,935,262.70 35.17%
Net Interest Income 274,081.99 221,773.41 23.59%
Staff Expenses 172,412.00 147,451.50 16.93%
Provision for possible losses 70,304.82 21,008.48 234.65%
Operating Profit 28,713.27 68,532.71 -58.10%
Net Profit 26,949.23 47,283.54 -43.01%
Capital Adequacy (%) 12.68 10.27 23.47%
NPL (%) 4.21 3.31 27.19%
Cost of Fund (%) 10.73 9.48 13.19%
Annualized EPS (In Rs.) 7.32