Nic Asia Laghubitta reports 17.23% growth in Net Profit in Q1; Company recently signed merger agreement with Swadeshi Laghubitta
Fri, Nov 13, 2020 10:15 AM on Latest, Company Analysis,
NIC Asia Laghubitta Bittiya Sanstha (NICLBSL) has published its first-quarter report of FY 2077/2078 with an increase in Net Profit by 17.23%. As per the report published by the company, the net profit increased to Rs. 6.49 crores as compared to Rs. 5.53 crores in the corresponding quarter of the previous year.
The borrowings of the company decreased by a massive 230.55% to Rs. 10.22 Arba which was Rs. 3.09 Arba in the corresponding quarter of the previous year. The company’s loans and advances stood at Rs. 7.69 Arba in this quarter.
The net interest income (core revenue) has increased by 53.91% to Rs. 17.29 crores compared to Rs. 11.23 crores in the corresponding quarter of the previous year.
The paid-up capital of the company stood at Rs. 1.48 Arba in this quarter and its reserve and surplus stood at Rs. 37.53.
Its annualized earnings per share (EPS) stands at Rs. 17.55. The net worth per share stood at Rs. 125.36. The company traded at a P/B multiple of 6.05 times.
The company has signed a merger agreement with Swadeshi Laghibitta Bittiya Sanstha Limited. After the merger, the company will be the largest microfinance in the country with paid-up Capital of more than Rs. 2 Arba. (The stock trading is halted for the time being)
Financial Highlights:
|
Particulars |
NIC Asia Laghubitta Bittiya Sanstha Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,480,000.00 |
1,004,500.00 |
47.34% |
|
Reserve & Surplus |
375,304.00 |
162,972.00 |
130.29% |
|
Borrowings |
10,223,024.00 |
3,092,750.00 |
230.55% |
|
Deposits |
979,110.00 |
631,230.00 |
55.11% |
|
Loans and Advances |
7,697,619.00 |
4,401,172.00 |
74.90% |
|
Net Interest Income |
172,911.00 |
112,343.00 |
53.91% |
|
Provision for possible losses |
26,740.00 |
87,926.00 |
- |
|
Operating Profit |
103,280.00 |
87,926.00 |
17.46% |
|
Net Profit |
64,937.00 |
55,393.00 |
17.23% |
|
Capital Adequacy Ratio (%) |
20.60% |
24.50% |
- |
|
NPL (%) |
0.97% |
- |
- |
|
Cost of Fund (%) |
6.08% |
10.21% |
- |
|
Annualized EPS (In Rs.) |
17.55 |
22.06 |
-20.43% |
|
Net Worth per share (In Rs.) |
125.36 |
116.22 |
7.86% |
|
P/B Ratio |
6.05 |
- |
- |
