Nepal Agro Laghubitta reports increase in profitability in Q2; What Boosted its net profit?
Sun, Jan 24, 2021 8:36 AM on Latest, Company Analysis,
Nepal Agro Laghubitta Bittiya Sanstha (NAGRO) has published the second-quarter report of FY 2077/2078 with an increase in Net Profit by huge 123.43%. As per the report published by the company, the net profit increased to Rs. 1.43 crore as compared to Rs. 64.15 lakhs in the corresponding quarter of the previous year.
The borrowings of the company increased to Rs. 75.09 crores which was Rs. 57.65 crores in the corresponding quarter of the previous year. Similarly, the company’s loans and advances have increased by 13.26% to Rs 88.39 crores in this quarter.
The net interest income (core revenue) has increased by 37.17% to Rs. 3.01 crores compared to Rs. 2.19 crores in the corresponding quarter of the previous year.
Despite negative operating profit, the company reported positive net profit mainly because it wrote back Rs. 7.05 crores of provision made in prior quarters.
The paid-up capital of the company stood at Rs. 5.72 crores in this quarter and its reserve and surplus stood at Rs. 3.77 crores which is an increase of 138.99% in this quarter.
Its annualized earnings per share (EPS) stands at Rs. 50.08. The net worth per share is Rs. 166.01. The company traded at a P/E multiple of 14.38 times.
Major Highlights:
|
Particulars |
Nepal Agro Laghubitta Bittiya Sanstha Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
57,244.00 |
57,244.00 |
0.00% |
|
Reserve & Surplus |
37,785.00 |
15,810.00 |
138.99% |
|
Borrowings |
750,979.00 |
576,514.00 |
30.26% |
|
Deposits |
785,339.67 |
604,773.85 |
29.86% |
|
Loans & Advances |
883,932.00 |
780,418.00 |
13.26% |
|
Net Interest Income |
30,138.00 |
21,971.00 |
37.17% |
|
Provision for possible Losses |
68,986.00 |
5,582.00 |
1135.87% |
|
Write Back of Provision |
70,591.00 |
3,388.00 |
1983.56% |
|
Net Profit |
14,333.00 |
6,415.00 |
123.43% |
|
Capital Adequacy (%) |
9.51% |
9.27% |
- |
|
NPL (%) |
1.90% |
1.33% |
- |
|
Cost of fund (%) |
5.73% |
10.49% |
- |
|
EPS (Rs.) |
50.08 |
22.41 |
- |
|
Net worth per share (Rs.) |
166.01 |
127.62 |
- |
|
Qtr end PE ratio (Times) |
14.38 |
- |
- |
|
Qtr End Market Price |
720 |
- |
- |
