Swadeshi Laghubitta reports 129% rise in net profit for Q1 of 2076/77; Annualized EPS at Rs 33.36 with paid-up capital of Rs 23 crore

Fri, Nov 1, 2019 11:25 AM on Financial Analysis, Latest, Stock Market,

Swadeshi Laghubitta Bittiya Sanstha Limited (SDESI) has reported a massive profit growth of 129.78 percent in the first quarter (Q1) of the FY 2076/77.

According to the unaudited financial report for the first quarter published today, the microfinance has stated that its net profit increased to Rs 1.91 crore in the first quarter as compared to Rs 83.47 lakh in the corresponding quarter of the last fiscal year 2075/76.

The microfinance company’s borrowing has increased from Rs 1.91 arba in the corresponding quarter of the previous year to Rs 2.37 arba in the first quarter of the fiscal year 2076/77. The company deposits grew by 56.39% to Rs 1.10 arba and at the same time loan and advances grew by 48.93% to Rs 3.70 arba.

Its net interest income has also increased to Rs 7.60 crore in the Q1 up from Rs 4.64 crore compared to the corresponding quarter of the last fiscal year.

Swadeshi Laghubitta has paid up capital of Rs 23 crore. Its reserve has increased to Rs 20.32 crore.

SDESI’s non-performing loan has increased slightly to 1.70% from 1.67% as stated by the first quarter financial report.

Its annualized Earning Per Share (EPS) stands at Rs 33.36, net worth per share at Rs 188.37 and P/E ratio at 18.17 times.

First-quarter report

Major Highlights:

Particulars (In Rs '000) Swadeshi Laghubitta
Q1 2076/77 Q1 2075/76 Difference
Paid Up Capital 230,000.00 115,000.00 100.00%
Reserve & Surplus 203,261.28 135,748.62 49.73%
Borrowings 2,373,106.22 1,915,453.70 23.89%
Deposits 1,108,268.39 708,679.21 56.39%
Loans & Advances 3,707,733.11 2,489,653.18 48.93%
Net Interest Income 76,087.63 46,464.15 63.76%
Staff Expenses 45,387.95 33,966.31 33.63%
Provision for possible losses 13,494.52 9,391.87 43.68%
Operating Profit 30,140.50 13,685.57 120.24%
Net Profit 19,180.32 8,347.36 129.78%
Capital Adequacy (%) 11.2 10.16 10.24%
NPL (%) 1.7 1.67 1.80%
Cost of Fund (%) 9.86 10 -1.40%
Annualized EPS (In Rs.) 33.36 -  
Net Worth per Share (In Rs.) 188.37 -  
PE Ratio (times) 18.17 -