Rise in net interest income and write back results massive 457.23% rise in net profit of Grameen Bikas Laghubitta; Non performing loan declines to 3.28%

Fri, May 7, 2021 6:06 AM on Financial Analysis, Stock Market, Latest,

Grameen Bikas Laghubitta Bittiya Sanstha Limited (GBLBS) published the third-quarter report of FY 2077/2078 with an outstanding 457.23% increment in Net Profit. As per the report published by the company, the net profit increased to Rs. 28.58 crore as compared to Rs. 5.12 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 55.15% to Rs. 7.20 Arba which was Rs. 4.64 Arba in the corresponding quarter of the previous year. The deposits of the company increased by 9.81% to Rs 3.93 arba.  The company’s loans and advances also increased by 18.94% to 12.54 Arba in this quarter.

The net interest income (core revenue) has increased by 29.89% to Rs. 86.15 crore compared to Rs. 66.33 crore in the corresponding quarter of the previous year.

The paid-up capital of the company stood at Rs. 98.25 crore in this quarter and its reserve and surplus stood at Rs. 74.93 crore which is an increase of 31.88% in this quarter.

The company's non-performing loans stand at 3.28% till this quarter which was 7.81% in the corresponding quarter.

Its annualized earnings per share (EPS) stands at Rs. 38.79. The net worth per share is Rs. 176.27. The company traded at a P/E multiple of 31.14 times.

Click here for Q3 report:

Major Highlights:

Particulars (In Rs '000) Grameen Bikas Laghubitta
Q3 2077/78 Q3 2076/77 Difference
Paid Up Capital 982,500.00 982,500.00 0.00%
Reserve & Surplus 749,378.00 568,246.00 31.88%
Borrowings 7,202,649.00 4,642,266.00 55.15%
Deposits 3,936,933.00 3,585,206.00 9.81%
Loans & Advances 12,540,063.00 10,542,915.00 18.94%
Net Interest Income 861,561.00 663,322.00 29.89%
Staff Expenses 480,701.00 511,219.00 -5.97%
Provision for possible losses 167,432.00 184,239.00 -
Operating Profit 297,555.00 31,019.00 859.27%
Write Back 151,478.00 49,537.00 205.79%
Net Profit 285,819.00 51,293.00 457.23%
Capital Adequacy (%) 8.41 10.51 -19.98%
NPL (%) 3.28 7.81 -
Cost of Fund (%) 6.08 9.03 -32.67%
EPS (In Rs.) 38.79 6.96 457.23%
Net Worth per Share (In Rs.) 176.27 157.84 11.68%
Qtr end PE Ratio (times) 31.14 - -
Qtr End Market Price 1208 - -