Asha Laghubitta Records 17.48% Net Profit Growth and 71.57% Rise in Core Revenue in Q3 Report; EPS at Rs 8.07
Mon, May 6, 2024 7:34 AM on Financial Analysis, Company Analysis, Latest,
Asha Laghubitta Bittiya Sanstha Limited (ALBSL) has released its financial report for the third quarter of the fiscal year 2080/2081, showcasing a remarkable upsurge in performance. The company revealed a notable 17.48% increase in net profit, soaring to Rs. 3.88 crores from Rs. 3.3 lakhs in comparison to the same quarter last year.
The report highlights a substantial 71.57% surge in core revenue, particularly in net interest income, which climbed to Rs. 31.62 crores from Rs. 18.43 crores in the corresponding quarter of the previous year.
Moreover, ALBSL observed positive growth in essential operational indicators. Deposits rose by 1.24% to Rs. 2.85 Arba, while loans and advances saw an increase of 9.03%, reaching Rs. 9.73 Arba during the third quarter.
During Q3, ALBSL recorded impairment charges totaling Rs. 2.48 crores, marking a significant decline of 39.51%. This decrease in impairment charges substantially contributed to the rise in net profit for the company.
Regarding the financial position, ALBSL reported a paid-up capital of Rs. 64.16 Crore, along with retained earnings of Rs. 12.33 crores and reserves and surplus amounting to Rs. 25.51 crores. The annualized earnings per share (EPS) stood at Rs. 8.07, while the net worth per share was recorded as Rs. 158.99. Notably, ALBSL traded at a P/E multiple of 91.11 times during the period.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Asha Laghubitta | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 641,616.00 | 641,616.00* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 123,301.71 | 102,133.53* | 20.73% |
| Reserves | 255,160.34 | 246,675.65* | 3.44% |
| Deposits | 2,859,001.69 | 2,823,998.99* | 1.24% |
| Loans & Advances to Customers | 9,734,645.95 | 8,928,777.89* | 9.03% |
| Net Interest Income | 316,234.00 | 184,322.47 | 71.57% |
| Personnel Expenses | 272,292.59 | 111,264.08 | 144.73% |
| Impairment Charges | 24,801.59 | 40,997.99 | -39.51% |
| Operating Profit | 54,919.65 | 47,073.43 | 16.67% |
| Net Profit | 38,819.76 | 33,043.80 | 17.48% |
| Distributable Profit | 123,301.71 | 0.00 | - |
| Capital Adequacy (%) | 9.87 | 10.50 | -6.00% |
| NPL (%) | 4.95 | 4.93 | 0.41% |
| Cost of Fund (%) | 10.26 | 11.85 | -13.42% |
| EPS (In Rs.) | 8.07 | 6.87 | 17.48% |
| Net Worth per Share (In Rs.) | 158.99 | 154.36 | 2.99% |
| Qtr end PE Ratio (times) | 91.11 | - | - |
| Qtr End Market Price | 735 | - | - |
