Samaj Laghubitta reports profit in Q1; Company in process of merger with Swastik Laghubitta
Mon, Nov 2, 2020 2:39 PM on Latest, Company Analysis,
Samaj Laghubitta Bittiya Sanstha (SAMAJ) has published its first-quarter report of FY 2077/2078 with a rise in Net Profit. As per the report published by the company, the net profit rose to Rs. 39.09 lakhs as compared to Rs. 3.35 thousand in the corresponding quarter of the previous year. The positive net profit for the company is seen mainly due to write back of provision.
The Company recently issued an IPO of 86,000 units where 40.35% (80,700 units) of total issue was allocated for the general public. However, the trading was halted for the stock because it had signed an agreement of merger with Swastik Laghubitta Bittiya Sanstha Limited (SWSLBSL) on Ashwin 05.
The borrowings of the company increased by 181.48% to Rs. 16.98 crores which was Rs. 6.03 crores in the corresponding quarter of the previous year. With the increase in deposits and borrowings the company’s loans and advances have also increased by 231.01% to Rs. 21.34 crores in this quarter.
The net interest income (core revenue) has increased by a whopping 246.73% to Rs. 29.26 lakhs compared to Rs. 8.43 lakhs in the corresponding quarter of the previous year.
The paid-up capital of the company increased to Rs. 2.00 crores in this quarter and its reserve and surplus stood at Rs. 10.20 lakhs which turned positive in this quarter compared to corresponding quarter of previous year.
Its annualized earnings per share (EPS) stands at Rs. 19.54. The new wroth per share increased to Rs. 105.10.
Financial Highlights:
|
Particulars |
Samaj Laghubitta Bittiya Sanstha Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
20,000.00 |
11,400.00 |
75.44% |
|
Reserve & Surplus |
1,020.14 |
-3,745.53 |
- |
|
Deposits |
43,695.29 |
10,859.27 |
302.38% |
|
Borrowings |
169,865.30 |
60,347.22 |
181.48% |
|
Loans and Advances |
213,466.52 |
64,489.34 |
231.01% |
|
Net Interest Income |
2,926.15 |
843.93 |
246.73% |
|
Provision for possible losses |
62,773.75 |
374.28 |
16671.87% |
|
Operating Profit |
-59,635.67 |
-237.70 |
- |
|
Write Back of provision for possible losses |
63,544.65 |
241.05 |
26261.61% |
|
Net Profit |
3,908.99 |
3.35 |
116586.27% |
|
Capital Adequacy Ratio (%) |
10.13% |
12.08% |
- |
|
NPL (%) |
0.04% |
- |
- |
|
Cost of Fund (%) |
7.04% |
15.52% |
- |
|
Annualized EPS (In Rs.) |
19.54 |
0.03 |
66411.17% |
|
Net Worth per share (In Rs.) |
105.10 |
67.14 |
56.53% |
