CYC Nepal Laghubitta Reports Decline in Net Profit by 44.72% in Q1; EPS Stands at Rs 49.78 & Net Worth Per Share at Rs. 343.30
Sun, Nov 6, 2022 12:03 PM on Latest, Financial Analysis, Stock Market,
CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) published the first-quarter report of FY 2079/2080 with a decline in Net Profit by 44.72%. As per the report published by the company, the net profit decreased to Rs. 1.51 crore as compared to Rs. 2.73 crore in the corresponding quarter of the previous year.
Earlier this year, the company issued an IPO worth Rs. 3.95 Crores.
The borrowings of the company increased by 200.50% to Rs. 1.78 Arba which was Rs. 59.54 crores in the corresponding quarter of the previous year. The deposits of the company increased by 51.50% to Rs 1.47 Arba. The company’s loans and advances have also increased by 76.82% to 3.92 Arba in this quarter.
The net interest income - NII (core revenue) has increased by 36.10% to Rs. 6.04 crores compared to Rs. 4.44 crores in the corresponding quarter of the previous year. Despite having an increment in NII, the company reported decline in net profit because of the high staff expenses which have increased by 78.26% and the provision for possible losses which stands at Rs. 28.24 Lakhs for this quarter.
The paid-up capital of the company stood at Rs. 12.16 crores in this quarter and its reserve and surplus stood at Rs. 29.59 crores which is an increase of 144.12% in this quarter.
Its annualized earnings per share (EPS) stand at Rs. 49.78. The net worth per share is Rs. 343.30 The company traded at a P/E multiple of 34.12 times.
Major Financial Highlights
| Particulars (In Rs '000) | CYC Nepal Laghubitta Bittiya Sanstha | ||
|---|---|---|---|
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Paid Up Capital | 121,641.84 | 82,108.24 | 48.15% |
| Reserve & Surplus | 295,950.04 | 121,231.10 | 144.12% |
| Borrowings | 1,789,176.77 | 595,407.02 | 200.50% |
| Deposits | 1,471,404.49 | 971,250.66 | 51.50% |
| Loans & Advances | 3,925,435.60 | 2,220,050.91 | 76.82% |
| Net Interest Income | 60,438.96 | 44,408.29 | 36.10% |
| Staff Expenses | 43,020.85 | 24,133.34 | 78.26% |
| Provision for possible losses | 2,824.05 | ||
| Operating Profit | 24,281.64 | 25,707.88 | -5.55% |
| Write Back | 17,761.22 | -100.00% | |
| Net Profit | 15,137.37 | 27,385.53 | -44.72% |
| Capital Adequacy (%) | 9.08 | 9.61 | -5.52% |
| NPL (%) | 2.87 | 3.12 | -8.01% |
| EPS (In Rs.) | 49.78 | 133.41 | -62.69% |
| Net Worth per Share (In Rs.) | 343.30 | 247.65 | 38.62% |
| Qtr end PE Ratio (times) | 34.12 | - | - |
| Qtr End Market Price | 1698.2 | - | - |
