Summit Microfinance continues downward trend in net profit; reports net profit of Rs 4 crore and EPS of Rs 23.55 per share
Wed, Aug 15, 2018 7:48 AM on Company Analysis, Financial Analysis, Latest,
Summit Microfinance Development Bank Limited (SMFDB) has shown continuation to the downward movement in net profit. The microfinance’s net profit has dropped by 20.09 percent in the fourth quarter (Q4) of the current fiscal year 2074/75.
Publishing the unaudited financial report for the third quarter, the microfinance company stated that its net profit has diminished to Rs 4 crore in the Q4 of current fiscal year 2074/75, down from Rs 5 crore in the corresponding period of the previous fiscal year 2073/74.
Its net interest income has also fallen from Rs 11.9 crore in corresponding quarter of previous year to Rs 11.35 crore in the fourth quarter of 2074/75.
Its paid-up capital remains at Rs 17 crore with reserve of Rs 9.14 crore in Q4.
The company has borrowings of Rs 78.86 crore in the fourth quarter, up from Rs 54.04 crore in the corresponding quarter. Likewise, it has extended loans and advances of Rs 1.55 arba in Q4 whereas in the same period last year the figure stood at Rs 1.08 arba.
Its non-performing loan (NPL) has increased to 0.68% in Q4 from 0.34% in the previous year report.
Its annualized earning per share (EPS) stands at Rs 23.55, net worth per share at Rs 153.75 and the P/E ratio at 54.15 times.
Major Highlights:
| Particulars (In Rs '000) | SMFDB | ||
|---|---|---|---|
| Q4 2074/75 | Q4 2073/74 | Difference | |
| Paid Up Capital | 170,000 | 72,500 | 134.48% |
| Reserve & Surplus | 91,372 | 81,483 | 12.14% |
| Deposits | 617,326 | 454,518 | 35.82% |
| Borrowings | 788,608 | 540,447 | 45.92% |
| Loans & Advances | 1,548,634 | 1,087,911 | 42.35% |
| Net Interest Income | 113,506 | 119,725 | -5.19% |
| Provision for possible losses | 3,067 | 1,072 | 186.13% |
| Operating Profit | 62,903 | 78,722 | -20.09% |
| Net Profit | 40,029 | 50,096 | -20.09% |
| NPL (%) | 0.68 | 0.34 | 100.00% |
| Annualized EPS (In Rs.) | 23.55 | 69.09 | -65.91% |
| Net Worth per Share (In Rs.) | 153.75 | 212.39 | -27.61% |
| P/E Ratio (In times) | 54.15 | - | |
