NIC Asia Laghubitta publish improved Q3 report after successful merger with Swadeshi Laghubitta; net profit stands at Rs 42.72 crore

Thu, Apr 22, 2021 12:10 PM on Financial Analysis, Latest,

NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL) published the third-quarter report of FY 2077/2078 after a successful merger with Swadeshi Laghubitta with an impressive 247.93% increment in Net Profit. As per the report published by the company, the net profit increased to Rs. 42.72 crores as compared to Rs. 12.27 crores in the corresponding quarter of the previous year.

The growth in major variables seen this quarter is also due to the inclusion of Swadeshi Laghubitta's financials.

The borrowings of the company increased by 144.23% to Rs. 13.69 Arba which was Rs. 5.60 Arba in the corresponding quarter of the previous year. The company’s loans and advances have also increased by 119.75% to 15.88 Arba in this quarter.

The net interest income (core revenue) has increased by 242.94% to Rs. 92.98 crores compared to Rs. 27.11 crores in the corresponding quarter of the previous year.

The paid-up capital of the company stood at Rs. 1.73 Arba in this quarter and its reserve and surplus stood at Rs. 79.53 crore which is an increase of 249.57% in this quarter.

Its annualized earnings per share (EPS) stands at Rs. 32.75. The net worth per share is Rs. 145.72. The company traded at a P/E multiple of 51.88 times.

Click here for Q3 report

Major Highlights:

Particulars (In Rs '000) NIC Asia Laghubitta
Q3 2077/78 Q3 2076/77 Difference
Paid Up Capital 1,739,440.00 1,004,500.00 73.16%
Reserve & Surplus 795,302.00 227,509.00 249.57%
Borrowings 13,691,706.00 5,606,005.00 144.23%
Deposits 2,766,125.00 1,013,883.00 172.82%
Loans & Advances 15,884,228.00 7,228,274.00 119.75%
Net Interest Income 929,818.00 271,132.00 242.94%
Staff Expenses 221,625.00 57,734.00 283.87%
Provision for possible losses 185,277.00 23,474.00 -
Write Back of Provision 0.00 0.00 -
Operating Profit 624,013.00 194,895.00 220.18%
Net Profit 427,204.00 122,784.00 247.93%
Capital Adequacy (%) 15.59 16.17 -3.59%
NPL (%) 1.49 0.32 -
Cost of Fund (%) 5.48 10.30 -46.80%
EPS (In Rs.) 32.75 16.30 100.93%
Net Worth per Share (In Rs.) 145.72 122.65 18.81%
Qtr end PE Ratio (times) 51.88 - -
Qtr End Market Price 1699 - -