Decline in Core Business Revenue Impacts Profitability Ratios of NIC Asia Laghubitta in Q3; NPL at 4.91% & EPS at Rs. 17.82
Fri, May 12, 2023 11:51 AM on Latest, Financial Analysis, Stock Market,
NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL) published the third-quarter report of FY 2079/2080 with decline in net profit by 58.93%. As per the report published by the company, the net profit decreased to Rs. 23.24 crore as compared to Rs. 56.60 crore in the corresponding quarter of the previous year.
The borrowings of the company decreased by 12.91 % to Rs. 14.14 Arba which was Rs. 16.23 Arba in the corresponding quarter of the previous year. The deposits of the company decreased by 14.80% to Rs 2.85 arba. The company’s loans and advances also decreased by 7.30% to 19.58 Arba in this quarter.
The net interest income (core revenue) has decreased by 34.96% to Rs. 77.67 Crores compared to Rs. 1.19 Arba 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. 1.28 arba.
The company's NPL increased to 4.91% from 1.46%.
Its earnings per share (EPS) stand at Rs. 17.82. The net worth per share is Rs. 173.65. The company traded at a P/E multiple of 33.22 times.
Major Highlights:
| Particulars (In Rs '000) | NIC Asia Laghubitta | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 1,739,440.00 | 1,739,440.00 | 0.00% |
| Retained Earnings | 672,420.33 | 813,159.89 | -17.31% |
| Reserves | 608,611.02 | 496,187.23 | 22.66% |
| Borrowings | 14,142,420.38 | 16,238,694.29 | -12.91% |
| Deposits from Customers | 2,856,529.71 | 3,352,665.94 | -14.80% |
| Loans and Advances to Customers | 19,589,128.20 | 21,131,678.74 | -7.30% |
| Net Interest Income | 776,766.84 | 1,194,215.68 | -34.96% |
| Personnel Expenses | 374,113.98 | 407,299.35 | -8.15% |
| Impairment Charges | 42,292.40 | -100.00% | |
| Write Back | 84,556.17 | ||
| Operating Profit | 334,372.60 | 771,009.71 | -56.63% |
| Net Profit | 232,481.91 | 566,085.61 | -58.93% |
| Capital Adequacy (%) | 14.19 | 14.23 | -0.28% |
| NPL (%) | 4.91 | 1.46 | 236.30% |
| Cost of Fund (%) | 11.60 | 8.89 | 30.48% |
| EPS (In Rs.) | 17.82 | 43.39 | -58.93% |
| Net Worth per Share (In Rs.) | 173.65 | 175.27 | -0.93% |
| Qtr end PE Ratio (times) | 33.22 | - | - |
| Qtr End Market Price | 592.00 | - | - |
