Net Profit of Deprosc Laghubitta Declined by 35.60% Due to High Interest Expenses and Impairment Charges; NPL at 3.74%
Fri, Feb 10, 2023 1:17 PM on Latest, Financial Analysis, Stock Market,
Deprosc Laghubitta Bittiya Sanstha Limited (DDBL) published the second-quarter report of FY 2079/2080 with a 35.60% decline in Net Profit. As per the report published by the company, the net profit declined to Rs. 21.53 crore as compared to Rs. 33.44 crore in the corresponding quarter of the previous year.
The borrowings of the company decreased by 6.34% to Rs. 7.45 Arba which was Rs. 7.96 Arba in the corresponding quarter of the previous year. The deposits of the company increased by 6.82%. The company’s loans and advances increased by mere 1.68% to Rs. 18.65 Arba in this quarter.
The net interest income (core revenue) has decreased by 9.10% to Rs. 64.81 Crores compared to Rs. 71.30 crore in the corresponding quarter of the previous year.
The company has impairment charges of Rs. 4.89 Crores in this period which has also affected the profitability of the company.
The paid-up capital of the company stood at Rs. 1.38 Arba in this quarter and its reserve and surplus stood at Rs 1.90 arba. The company proposed 10% bonus shares and 11.052632% cash dividend for the FY 2078/79. These bonus dividends are yet to be capitalized by the company.
The company's non-performing loans increased to 3.74% till this quarter which was 0.59% in the corresponding quarter.
Its annualized earnings per share (EPS) stand at Rs. 31.05. The net worth per share is Rs. 237.51. The company traded at a P/E multiple of 32.21 times.
Major Highlights:
| Particulars (In Rs '000) | Deprosc Laghubitta | ||
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 1,387,498.33 | 1,387,498.33 | 0.00% |
| Retained Earnings | 923,718.30 | 775,756.34 | 19.07% |
| Reserves | 984,239.83 | 926,177.99 | 6.27% |
| Borrowings | 7,456,409.41 | 7,961,147.06 | -6.34% |
| Deposits from Customers | 8,514,001.92 | 7,970,178.76 | 6.82% |
| Loans and Advances to Customers | 18,652,938.87 | 18,344,799.06 | 1.68% |
| Net Interest Income | 648,104.39 | 713,018.91 | -9.10% |
| Personnel Expenses | 305,818.77 | 283,938.30 | 7.71% |
| Impairment Charges | 48,942.83 | ||
| Write Back | 25,321.07 | ||
| Operating Profit | 307,710.56 | 479,094.52 | -35.77% |
| Net Profit | 215,397.39 | 334,481.11 | -35.60% |
| Capital Adequacy (%) | 16.94 | 14.36 | 17.97% |
| NPL (%) | 3.74 | 0.59 | |
| Cost of Fund (%) | 9.36 | 7.18 | 30.36% |
| EPS (In Rs.) | 31.05 | 48.21 | -35.60% |
| Net Worth per Share (In Rs.) | 237.51 | 222.66 | 6.67% |
| Qtr end PE Ratio (times) | 32.21 | - | - |
| Qtr End Market Price | 1000.10 | - | - |
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