Decline in Core Business Revenue Impacts Net Profit of NIC Asia Laghubitta in Q1; NPL at 3.81% & Net Worth at Rs. 195.90
Mon, Nov 7, 2022 2:24 PM on Latest, Financial Analysis, Stock Market,
NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL) published the first-quarter report of FY 2079/2080 with decline in net profit of 68.18%. As per the report published by the company, the net profit decreased to Rs. 6.57 crore as compared to Rs. 20.6 crore in the corresponding quarter of the previous year.
The borrowings of the company decreased by 2.25 % to Rs. 15.87 Arba which was Rs. 16.23 Arba in the corresponding quarter of the previous year. The deposits of the company increased by mere 0.26% to Rs 3.36 arba. The company’s loans and advances also slightly increased by 0.61% to 21.55 Arba in this quarter.
The net interest income (core revenue) has decreased by 31.09% to Rs. 20.02 Crores compared to Rs. 142.11 Crores in the corresponding quarter of the previous year.
The paid-up capital of the company stood at Rs. 1.73 arba in this quarter and its reserve and surplus stood at Rs. 1.66 arba.
The company NPL increased to 3.81% from 1.55%.
Its earnings per share (EPS) stand at Rs. 15.13. The net worth per share is Rs. 195.90. The company traded at a P/E multiple of 47.45 times.
Major Highlights:
| Particulars (In Rs '000) | NIC ASIA Laghubitta | ||
|---|---|---|---|
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Paid Up Capital | 1,739,440.00 | 1,739,440.00 | 0.00% |
| Reserves | 645,600.62 | 583,486.28 | 10.65% |
| Retained Earnings | 1,022,577.65 | 1,019,957.33 | 0.26% |
| Borrowings | 15,873,791.56 | 16,238,694.29 | -2.25% |
| Deposits | 3,361,430.75 | 3,352,665.94 | 0.26% |
| Loans & Advances | 21,559,836.70 | 21,429,201.06 | 0.61% |
| Net Interest Income | 290,257.17 | 421,185.44 | -31.09% |
| Personnel Expenses | 137,470.36 | 151,711.97 | -9.39% |
| Provision for possible losses | 669.19 | 47,245.57 | - |
| Operating Profit | 93,981.18 | 295,291.11 | -68.17% |
| Net Profit | 65,795.30 | 206,775.17 | -68.18% |
| Capital Adequacy (%) | 15.61 | 12.55 | 24.38% |
| NPL (%) | 3.81 | 1.55 | - |
| Cost of Fund (%) | 10.27 | 6.57 | 56.32% |
| EPS (In Rs.) | 15.13 | 47.55 | -68.18% |
| Net Worth per Share (In Rs.) | 195.90 | 192.18 | 1.94% |
| Qtr end PE Ratio (times) | 47.45 | - | - |
| Qtr End Market Price | 718 | - | - |
