CYC Nepal Laghubitta Reports 104.58% Surge in Net Profit, Net Interest Income Rises by 32%
Wed, Feb 5, 2025 8:23 AM on Financial Analysis, Company Analysis, Latest,
CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) has published its financial report for the second quarter of the fiscal year 2081/82, showcasing a significant improvement in its financial performance. The company reported a 104.58% increase in net profit, reaching Rs. 4.31 crores, compared to Rs. 2.1 crores in the corresponding quarter of the previous fiscal year.
The notable growth in profitability can be attributed to a 32% rise in net interest income, which stood at Rs. 17.40 crores, up from Rs. 13.18 crores in the same period last year. Additionally, the company recorded a reversal in impairment charges amounting to Rs. 2.53 lakhs, further contributing to the bottom line.
On the balance sheet front, CYCL reported a paid-up capital of Rs. 26.64 crores, while reserves and surplus amounted to Rs. 34.65 crores. The company’s borrowings declined by 7.13% to Rs. 2.66 Arba, and loans and advances contracted by 0.97% to Rs. 5.9 Arba.
In terms of key financial indicators, the company’s annualized Earnings Per Share (EPS) stood at Rs. 32.40, while the net worth per share was reported at Rs. 251.75. CYCL traded at a Price-to-Earnings (P/E) ratio of 48.05 times during the review period.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | CYC Nepal Laghubitta | ||
|---|---|---|---|
| Q2 2081/82 | Q2 2080/81 | Difference | |
| Paid Up Capital | 2,66,424.39 | 2,66,424.39* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 57,775.21 | 23,378.11* | 147.13% |
| Reserves | 3,46,513.68 | 3,38,876.93* | 2.25% |
| Borrowings | 26,68,528.78 | 28,73,449.86* | -7.13% |
| Loans & Advances to MFIs & Cooperatives | 59,01,631.58 | 59,59,722.90* | -0.97% |
| Net Interest Income | 1,74,077.48 | 1,31,880.05 | 32.00% |
| Personnel Expenses | 1,23,374.66 | 1,13,246.46 | 8.94% |
| Impairment Charges | -25,396.40 | 895.45 | - |
| Operating Profit | 59,371.36 | 24,991.03 | 137.57% |
| Net Profit | 43,162.07 | 21,097.86 | 104.58% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 33,666.42 | 0.00 | - |
| Capital Adequacy (%) | 8.25 | 8.12 | 1.60% |
| NPL (%) | 4.35 | 4.77 | -8.81% |
| Cost of Fund (%) | 7.23 | 10.50 | -31.14% |
| Annualized EPS (In Rs.) | 32.40 | 15.84 | 104.58% |
| Net Worth per Share (In Rs.) | 251.75 | 235.97 | 6.69% |
| Qtr end PE Ratio (times) | 48.05 | - | - |
| Qtr End Market Price | 1556.9 | - | - |
