Summit Laghubitta's net profit decline by 16.17% in Q3; Company is in merger with Sajilo Laghubitta

Thu, May 14, 2020 6:47 AM on Financial Analysis, Latest, Stock Market,

Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has published its third quarter (Q3) report of FY 2076/77. The microfinance has reported a net profit of Rs 3.59 crore, which is a 16.17% fall from the corresponding quarter of the previous year.

SMFDB’s net interest income has also increased from Rs 11.25 crore in the corresponding quarter of the previous year to Rs 11.82 crore in the third quarter of 2076/77. Its paid-up capital remains at Rs 25.43 crore with reserve and surplus of Rs 9.26 crore.

The company has borrowings of Rs 61.43 crore in the third quarter, falling from Rs 65.09 crore in the corresponding quarter of last year. Likewise, it has extended loans and advances of Rs 1.77 arba till Q3 whereas in the same period last year the figure stood at Rs 1.60 arba. Its non-performing loan (NPL) has increased to 3.03% in Q3 from 1.95% in the previous year report.

Its annualized earning per share (EPS) stands at Rs 18.83, net worth per share at Rs 136.42. Its quarter-end PE stands at 41.16.

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Major Highlights:

Particulars (In Rs '000)

Summit Laghubitta

Q3 2076/77

Q3 2075/76

Difference

Paid Up Capital

254,300.00

210,000.00

21.10%

Reserve & Surplus

92,622.84

88,285.01

4.91%

Borrowings

614,358.34

650,984.84

-5.63%

Deposits

836,884.98

732,962.48

14.18%

Loans & Advances

1,774,864.11

1,603,454.79

10.69%

Net Interest Income

118,215.60

112,516.71

5.06%

Staff Expenses

52,241.93

49,187.97

6.21%

Provision for possible losses

10,706.42

5,640.98

-

Operating Profit

61,758.43

67,319.83

-8.26%

Net Profit

35,912.23

42,839.89

-16.17%

Capital Adequacy (%)

17.65

17.39

1.50%

NPL (%)

3.03

1.95

-

Cost of Fund (%)

9.83

10.12

-2.87%

EPS (In Rs.)

18.83

27.20

-30.77%

Net Worth per Share (In Rs.)

136.42

142.04

-3.96%

Qtr end PE Ratio (times)

41.16

-

-

Qtr End Market Price

775

-

-