Rise in net interest income and write back results 96.09% rise in net profit of Deprosc Laghubitta in Q3; Non performing loan declines to 0.53%

Mon, May 10, 2021 5:45 AM on Financial Analysis, Latest,

Deprosc Laghubitta Bittiya Sanstha Limited (DDBL) published the third-quarter report of FY 2077/2078 with an outstanding 96.09% increment in Net Profit. As per the report published by the company, the net profit increased to Rs. 51.81 crore as compared to Rs. 26.42 crore in the corresponding quarter of the previous year.

The growth in net profit is mainly contributed by the rise in net interest income and write-back amount.

The borrowings of the company increased by 12.42% to Rs. 7.47 Arba which was Rs. 6.65 Arba in the corresponding quarter of the previous year. The deposits of the company increased by 28.90% to Rs 6.31 arba.  The company’s loans and advances also increased by 25.22% to 15.11 Arba in this quarter.

The net interest income (core revenue) has increased by 47.80% to Rs. 98.68 crore compared to Rs. 66.76 crore in the corresponding quarter of the previous year.

The paid-up capital of the company stood at Rs. 1.15 arba in this quarter and its reserve and surplus stood at Rs. 1.13 arba which is an increase of 37.83% in this quarter.

The company's non-performing loans stand at 0.53% till this quarter which was 2.58% in the corresponding quarter.

Its annualized earnings per share (EPS) stands at Rs. 59.75. The net worth per share is Rs. 198.21. The company traded at a P/E multiple of 30.89 times.

Click here for Q3 report:

Major Highlights:

Particulars (In Rs '000) Deprosc Laghubitta
Q3 2077/78 Q3 2076/77 Difference
Paid Up Capital 1,156,248.61 1,005,433.57 15.00%
Reserve & Surplus 1,135,530.52 823,872.38 37.83%
Borrowings 7,479,768.39 6,653,604.61 12.42%
Deposits 6,311,107.88 4,895,953.12 28.90%
Loans & Advances 15,111,257.91 12,068,144.03 25.22%
Net Interest Income 986,881.63 667,693.21 47.80%
Staff Expenses 345,039.07 280,539.57 22.99%
Provision for possible losses 193,867.11 220,067.52 -
Operating Profit 503,650.39 262,030.71 92.21%
Write Back 337,816.75 170,069.47 -
Net Profit 518,155.10 264,241.72 96.09%
Capital Adequacy (%) 13.07 11.76 11.14%
NPL (%) 0.53 2.58 -
Cost of Fund (%) 6.27 9.88 -36.54%
EPS (In Rs.) 59.75 35.04 70.51%
Net Worth per Share (In Rs.) 198.21 181.94 8.94%
Qtr end PE Ratio (times) 30.89 - -
Qtr End Market Price 1846 - -