Suryodaya Laghubitta Bittiya Sanstha Limited (SLBS) net profit slides by 32.15 percent in the second quarter (Q2) of the current fiscal year 2074/75.
Publishing the unaudited financial report for the second quarter today, the microfinance company stated that its net profit slides to Rs 1.01 in the Q2 of current fiscal year 2074/75, down from Rs 1.49 crore in the corresponding period of the previous fiscal year 2073/74.
Its net interest income has also slides from Rs 3.47 crore in corresponding quarter to Rs 3.05 crore in the second quarter.
Its paid up capital remains at Rs 4.76 crore with reserve of Rs 4.35 crore in Q2. SLBS will be issuing 2.80 lakh unit (70%) right shares of worth Rs 100 per share to its shareholders. By issuing right shares, SLBS will collect around Rs 2.80 crore. Thus, Paid up capital of SLBS will reach to Rs 7.56 crore from existing 4.76 crore (including 19% bonus shares from the net profit of FY 2073/74).
The book closure date for the upcoming 70% right shares has been set on Magh 26, 2074. Thus, only those shareholders holding their shares till Magh 25, 2074 i.e. one day ahead of the book closure date are eligible to apply for the right shares.
The company has borrowings of Rs 44.57 crore in the second quarter, up from Rs 43.16 crore in the corresponding quarter. Likewise, it has extended loans and advances of Rs 69.66 crore in Q2 whereas in the same period last year the figure stood at Rs 56.20 crore.
Its non-performing loan (NPL) has increased to 1.19% in Q2 from 0.17 % in the previous year report.
Its annualized earning per share (EPS) stands at Rs 42.71, net worth per share at Rs 191.42 and the P/E ratio at 28.05 times.
Major Highlights:
| Particulars (In Rs '000) |
SLBS |
| Q2 2074/75 |
Q2 2073/74 |
Difference |
| Paid Up Capital |
47,600 |
40,000 |
19.00% |
| Reserve & Surplus |
43,514 |
32,354 |
34.49% |
| Deposits |
319,231 |
186,953 |
70.75% |
| Borrowings |
445,717 |
431,646 |
3.26% |
| Loans & Advances |
696,632 |
562,077 |
23.94% |
| Net Interest Income |
30,512 |
34,733 |
-12.15% |
| Provision for possible losses |
3,153 |
2,095 |
50.50% |
| Operating Profit |
15,972 |
23,541 |
-32.15% |
| Net Profit |
10,164 |
14,980 |
-32.15% |
| NPL (%) |
1.19 |
0.17 |
600.00% |
| Annualized EPS (In Rs.) |
42.71 |
74.90 |
-42.97% |
| Net Worth per Share (In Rs.) |
191.42 |
180.89 |
5.82% |
| P/E Ratio (In times) |
28.05 |
|
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Announcement:
