Decline in Core Business Revenue Impacts Net Profit of NIC Asia Laghubitta in Q2; NPL At 3.38% & Net Worth At Rs. 155.52
Tue, Jan 31, 2023 10:53 AM on Latest, Financial Analysis, Stock Market,
NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL) published the second-quarter report of FY 2079/2080 with decline in net profit of 61.85%. As per the report published by the company, the net profit decreased to Rs. 14.92 crore as compared to Rs. 39.13 crore in the corresponding quarter of the previous year.
The borrowings of the company decreased by 7.01 % to Rs. 15.10 Arba which was Rs. 16.23 Arba in the corresponding quarter of the previous year. The deposits of the company increased by mere 0.42% to Rs 3.36 arba. The company’s loans and advances also decreased by 3.25% to 20.44 Arba in this quarter.
The net interest income (core revenue) has decreased by 34.86% to Rs. 54.76 Crores compared to Rs. 84.06 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. 1.52 arba.
The company NPL increased to 3.38% from 0.97%.
Its earnings per share (EPS) stand at Rs. 17.17. The net worth per share is Rs. 155.52. The company traded at a P/E multiple of 47.77 times.
Major Highlights:
| Particulars (In Rs '000) | NIC Asia Laghubitta | ||
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 1,739,440.00 | 1,739,440.00 | 0.00% |
| Retained Earnings | 965,795.56 | 864,106.54 | 11.77% |
| Reserves | 561,129.24 | 516,901.75 | 8.56% |
| Borrowings | 15,100,297.76 | 16,238,694.29 | -7.01% |
| Deposits | 3,366,710.95 | 3,352,665.94 | 0.42% |
| Loans & Advances to Customers | 20,444,121.06 | 21,131,552.58 | -3.25% |
| Net Interest Income | 547,624.16 | 840,626.06 | -34.86% |
| Personnel Expenses | 257,964.48 | 289,668.11 | -10.94% |
| Impairment Charges | 64,400.51 | -100.00% | |
| Write Back | 21,390.04 | ||
| Operating Profit | 213,012.79 | 558,900.91 | -61.89% |
| Net Profit | 149,296.41 | 391,302.04 | -61.85% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 101,689.02 | ||
| Capital Adequacy (%) | 15.16 | 13.43 | 12.88% |
| NPL (%) | 3.38 | 0.97 | |
| Cost of Fund (%) | 11.44 | 8.47 | 35.06% |
| EPS (In Rs.) | 17.17 | 44.99 | -61.85% |
| Net Worth per Share (In Rs.) | 155.52 | 149.68 | 3.91% |
| Qtr end PE Ratio (times) | 47.77 | - | - |
| Qtr End Market Price | 820 | - | - |
