Swadeshi Laghubitta reports net profit of Rs 4.82 crore for Q2 of 2076/77; Annualized EPS at Rs 34.98

Tue, Jan 28, 2020 11:47 AM on Financial Analysis, Latest, Stock Market,
Swadeshi L...

Swadeshi Laghubitta Bittiya Sanstha Limited (SDESI) has reported a profit growth of 82.46 percent in the second quarter (Q2) of the FY 2076/77.

According to the unaudited financial report for the second quarter published today, the microfinance has stated that its net profit increased to Rs 4.82 crore in the second quarter as compared to Rs 2.64 crore in the corresponding quarter of the last fiscal year 2075/76.

The microfinance company’s borrowing has increased from Rs 1.84 arba in the corresponding quarter of the previous year to Rs 2.60 arba in the second quarter of the fiscal year 2076/77. The company deposits grew by 47.09% to Rs 1.19 arba and at the same time loan and advances grew by 38.42% to Rs 3.77 arba.

Its net interest income has also increased to Rs 15.48 crore in the Q2 up from Rs 10.14 crore compared to the corresponding quarter of the last fiscal year.

Swadeshi Laghubitta has paid up capital of Rs 27.60 crore. Its reserve has increased to Rs 14.79 crore.

SDESI’s non-performing loan has decreased slightly to 1.87% from 1.82% as stated by the second quarter financial report.

Its annualized Earning Per Share (EPS) stands at Rs 34.98, net worth per share at Rs 153.62 and P/E ratio at 21.10 times.

Major Highlights:

Particulars (In Rs '000) SDESI
Q2 2076/77 Q2 2075/76 Difference
Paid Up Capital 276,000 230,000 20.00%
Reserve & Surplus 147,996 139,917 5.77%
Borrowings 2,606,757 1,840,708 41.62%
Deposits 1,190,647 809,453 47.09%
Loans & Advances 3,778,281 2,729,540 38.42%
Net Interest Income 154,888 101,481 52.63%
Staff Expenses 79,726 61,401 29.84%
Provision for possible losses 21,812 18,544 17.62%
Operating Profit 75,850 42,138 80.00%
Net Profit 48,268 26,454 82.46%
Capital Adequacy (%) 10.33 12.47 -17.16%
NPL (%) 1.82 1.87 -2.67%
Cost of Fund (%) 9.83 8.92 10.20%
Annualized EPS (In Rs.) 34.98 23.00 52.05%
Net Worth per Share (In Rs.) 153.62    
PE Ratio (times) 21.1