Lumbini Bikas Bank profit falls to Rs 18.44 crore in Q3; Provision for possible losses increases by 229.53%

Tue, Apr 24, 2018 12:36 AM on Financial Analysis, Latest, Stock Market,

Lumbini Bikas Bank Limited (LBBL) has reported slight decrease in net profit by 16.43% in the third quarter of the current fiscal year 2074/75.

As per the report published in newspaper, the development bank has stated that its net profit decreased to Rs 18.44 crore in Q3 from Rs 22.06 crore reported in the corresponding quarter of the previous fiscal year 2073/74.

It has collected deposits of Rs 19.42 arba and floated loans of Rs 17.49 arba in Q3 of current fiscal year while its borrowings stand at Rs 35.39 crore.

It’s paid up capital remains at Rs 2.14 arba and has reserve of Rs 1.002 arba.

The development bank’s provision for possible losses increased massively by 229.53% to Rs 10.71 crore in the third quarter of the current fiscal year from Rs 3.25 crore in the corresponding quarter last year while its non-performing loan (NPL) increased to 2.59% from 1.75%.

Its annualized Earning Per Share (EPS) now stands at Rs 11.44, net worth per share at Rs 146.61 and P/E ratio at 13.55 times.

Major Highlights:

Particulars (In Rs '000)

LBBL

Q3 2074/75

Q3 2073/74

Difference

Paid Up Capital

     2,149,634

     1,815,004

18.44%

Reserve & Surplus

     1,002,044

         240,287

317.02%

Deposits

   19,425,458

   15,064,083

28.95%

Borrowings

         353,955

         740,334

-52.19%

Loans & Advances

   17,495,837

   13,568,724

28.94%

Net Interest Income

         534,566

         471,963

13.26%

Provision for possible losses

         107,118

           32,506

229.53%

Operating Profit

         183,493

         224,418

-18.24%

Net Profit

         184,411

         220,655

-16.43%

NPL (%)

2.59

1.75

48.00%

 Annualized EPS (In Rs.)

             11.44

             16.21

-29.44%

Net Worth per Share (In Rs.)

           146.61

           113.24

29.47%

P/E Ratio (In times)

13.55

10.36

30.79%

See the quarterly report here