Unnati Sahakarya reports huge increment in net profit despite huge provision; Heres why
Tue, Feb 9, 2021 8:26 AM on Latest, Company Analysis,
Unnati Sahakarya Laghubitta Bittiya Sanstha (USLB) has published its second-quarter report of FY 2077/2078 with an increase in Net Profit by 52.91%. As per the report published by the company, the net profit increased to Rs. 4.72 crores as compared to Rs. 3.08 crores in the corresponding quarter of the previous year.
The borrowings of the company increased to Rs. 1.99 Arba which was Rs. 1.07 Arba in the corresponding quarter of the previous year. The company’s loans and advances increased to Rs. 87.18 crores in this quarter.
The net interest income (core revenue) has increased by 56.05% to Rs. 10.28 Arba compared to Rs. 6.58 crores in the corresponding quarter of the previous year.
Despite of huge provision, the company was able to wrote back Rs. 57.51 crores which pushed the profit higher.
The paid-up capital of the company stood to Rs. 14.95 crores in this quarter and its reserve and surplus stood at Rs. 12.41 crores which is an increase of 50.28%.
Its annualized earnings per share (EPS) stands at Rs. 63.18. The net worth per share increased to Rs. 183.03. The company traded at a P/E multiple of 22.62 times.
Major Highlights:
|
Particulars |
Unnati Sahakarya Laghubitta Bittiya Sanstha Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
149,536.65 |
88,275.00 |
69.40% |
|
Reserve & Surplus |
124,161.45 |
82,617.40 |
50.28% |
|
Borrowings |
1,991,131.54 |
1,079,002.66 |
84.53% |
|
Deposits |
891,872.47 |
644,368.43 |
38.41% |
|
Loans & Advances |
2,687,262.92 |
1,718,347.33 |
56.39% |
|
Net Interest Income |
102,803.23 |
65,878.13 |
56.05% |
|
Provision for possible Losses |
566,790.77 |
10,123.18 |
- |
|
Write Back of Provision |
575,118.02 |
0.00 |
- |
|
Net Profit |
47,240.30 |
30,894.43 |
52.91% |
|
Capital Adequacy (%) |
10.30% |
9.43% |
- |
|
NPL (%) |
1.89% |
1.88% |
- |
|
Cost of fund (%) |
5.28% |
9.47% |
- |
|
EPS (Rs.) |
63.18 |
70.00 |
- |
|
Net worth per share (Rs.) |
183.03 |
193.59 |
- |
|
Qtr end PE ratio (Times) |
22.62 |
- |
- |
|
Qtr End Market Price |
1429 |
- |
- |
