Swabalamban Laghubitta Reveals 82.70% Drop in Net Profit in Q2 2080/81, NPL at 11.36%
Tue, Feb 6, 2024 10:57 AM on Financial Analysis, Company Analysis, Latest,
Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) has released its second-quarter report for the fiscal year 2080/81, revealing a notable downturn in net profit. The company reported a net profit of Rs. 4.15 Crores, reflecting an 82.70% decrease from the Rs. 24.01 crores recorded in the corresponding quarter of the previous year.
Despite the decline in net profit, SWBBL showcased resilience in certain financial aspects. The company's deposits remained at Rs. 13.35 Arba, while loans and advances increased by 0.35% to reach Rs. 18.35 Arba in the current quarter.
However, the net interest income (core revenue) experienced a 6.23% decline, totaling Rs. 66.66 crore in the current quarter, as opposed to Rs. 71.08 crore in the corresponding quarter of the previous year.
In terms of financial structure, SWBBL reported a paid-up capital of Rs. 1.45 Arba, with reserves standing at Rs. 1.55 Arba, a share premium of Rs. 8.68 lakhs and Rs. 7.61 Crores as retained earnings.
The annualized earnings per share (EPS) stand at Rs. 5.73, and the net worth per share is reported at Rs. 212.57. The Non-Performing Loans (NPL) experienced a notable surge of 60%, resulting in a standing ratio of 11.36%.
Major Financial Highlights:
* Figure is of Immediate Fiscal Year Ending
| Particulars (In Rs '000) | Swabalamban Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 1,450,000.00 | 1,290,495.50* | 12.36% |
| Share Premium | 868.76 | 868.76* | 0.00% |
| Retained Earnings | 76,195.29 | 582,838.11* | -86.93% |
| Reserves | 1,555,217.11 | 1,383,814.71* | 12.39% |
| Deposits | 13,352,647.94 | 12,805,772.00* | 4.27% |
| Loans & Advances | 18,357,518.72 | 18,293,558.22* | 0.35% |
| Net Interest Income | 666,619.24 | 710,895.03 | -6.23% |
| Personnel Expenses | 427,388.00 | 414,117.23 | 3.20% |
| Impairment Charges/Reversal for loans and Advances | 292,500.96 | 90,344.74 | 223.76% |
| Operating Profit | 59,364.02 | 343,077.31 | -82.70% |
| Net Profit | 41,563.22 | 240,195.18 | -82.70% |
| Capital Adequacy (%) | 11.35 | 12.14 | -6.51% |
| NPL (%) | 11.36 | 7.10 | 60.00% |
| Cost of Fund (%) | 8.83 | 8.84 | -0.11% |
| Annualized EPS (In Rs.) | 5.73 | 37.23 | -84.60% |
| Net Worth per Share (In Rs.) | 212.57 | 252.46 | -15.80% |
| Qtr end PE Ratio (times) | 131.70 | - | - |
| Qtr End Market Price | 755 | - | - |
