Nepal Seva shows below average performance in the first quarter; NPL rises from 1.44% to 4.77% by the end of the first quarter
Wed, Nov 21, 2018 10:38 AM on Financial Analysis, Latest, Stock Market,
Nepal Seva Laghubitta Bittiya Sanstha has published the unaudited quarterly report for the first quarter of FY 75/76. Since the first quarter of the previous year, the paid up capital of the company has increased by more than 64% from Rs.3.64 Crore to Rs.6 Crore. The reserves of the company increased by almost 200% and currently stand at Rs.35.78 Lakhs. The borrowings have increased by almost 35% to Rs.24.66 Crore.
The company posted an increase of 83.77% in the deposits and 50% increase in loans compared to the corresponding quarter of the previous year. However, the NPL of the company has heavily increased from 1.44% in the corresponding quarter of the previous year to 4.77% by the end of the first quarter. The company has provision for losses worth Rs.66.17 Lakhs.
The company’s operating loss grew from Rs.19.33 Lakhs to Rs.40.28 Lakhs by the end of the first quarter. The company had posted a net profit of Rs.1.93 Lakhs in the corresponding quarter of the previous year, but reported a net loss of Rs.16.69 Lakhs by the end of the first quarter of the current fiscal year.
Highlights
|
Particulars (In Rs '000) |
Q1 75/76 |
Q1 74/75 |
Difference |
|---|---|---|---|
|
Paid Up Capital |
60,000 |
36,427.50 |
64.71% |
|
Reserve & Surplus |
3,578.45 |
1,207.44 |
196.37% |
|
Borrowings |
246,659.30 |
183,205.14 |
34.64% |
|
Deposits |
52,757.91 |
28,709.10 |
83.77% |
|
Loans & Advances |
322,979.26 |
215,607.81 |
49.80% |
|
Net Interest Income |
5,270.26 |
3,463.40 |
52.17% |
|
Provision for losses |
6,617.26 |
2,813.26 |
135.22% |
|
Operating Profit |
(4,028.18) |
(1,933.54) |
- |
|
Net Profit |
(1,669.20) |
193.18 |
-964.06% |
|
NPL (%) |
4.77% |
1.44% |
231.25% |
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