Recently allotted Nepal Seva Laghu Bitta's profit declines to Rs 5.26 lakh in Q3; EPS at Rs 1.67

Thu, May 17, 2018 12:39 AM on Financial Analysis, Latest, Stock Market,

Nepal Seva Laghu Bitta Bittiya Sanstha Limited (SEVA) has reported decline in net profit to Rs 5.26 lakh till the end of third quarter of the fiscal year 2074/75.

As per the quarterly unaudited financial statement released by the company, its net profit has slipped by 86.34% as compared to the third quarter last year. However, in this period, it has been able to increase its net interest income by almost 43.90% to Rs 1.28 crore.

Its deposit base has surged to Rs 4.13 crore, up 100.05% from Rs 2.06 crore last year. Likewise, it has floated loans worth Rs 29.40 crore till Q3 this year whereas in the last year, the figure stood at Rs 15.47 crore. Its borrowings have reached Rs 21.40 crore which is 78.76% up from Rs 11.95 crore reported in the corresponding period last year.

However, its non-performing loans (NPL) have decreased to 4.35% from 4.44% posted in the same period last year.

It's paid up capital at the end of Q3 stands at Rs 4.20 crore with a reserve of Rs 16.54 lakh. After the recent IPO issuance, its paid-up capital currently stands at Rs 6 crore.

Its annualized EPS now stands at Rs 1.67 and net worth per share at Rs 103.94.

Major Highlights:

Particulars (In Rs '000)

SEVA

Q3 2074/75

Q3 2073/74

Difference

Paid Up Capital

           42,000

           17,958

133.88%

Reserve & Surplus

             1,654

                 783

111.32%

Deposits

           41,345

           20,668

100.05%

Borrowings

         214,063

         119,751

78.76%

Loans & Advances

         294,043

         154,748

90.01%

Net Interest Income

           12,899

             8,964

43.90%

Provision for possible losses

           14,536

             5,269

175.87%

Operating Profit

           (8,393)

             1,545

-643.30%

Net Profit

                 526

             3,851

-86.34%

NPL (%)

4.35

4.44

-2.03%

 Annualized EPS (In Rs.)

                1.67

             28.59

-94.16%

Net Worth per Share (In Rs.)

           103.94

           104.36

-0.40%

P/E Ratio (In times)

-

-

-