Deprosc Laghubitta Reports 22.98% Drop in Net Profit for Q1 2081/82, Despite Growth in Net Interest Income
Fri, Nov 8, 2024 9:25 AM on Latest, Financial Analysis, Company Analysis,
Deprosc Laghubitta Bittiya Sanstha Limited (DDBL) has reported a 22.98% decrease in net profit for Q1 2081/82, amounting to Rs. 6.80 crore.
Despite the decline in profit, the company saw an impressive 24.50% growth in net interest income, reaching Rs. 41.61 crore, indicating a strengthening of core revenue.
The company’s impairment charges for loans and advances increased significantly by 170.52% to Rs. 1.32 crore, reflecting proactive provisioning. Retained earnings and reserves also showed slight growth, with retained earnings at Rs. 4.10 crore and reserves and surplus at Rs. 15.96 crore.
In terms of lending, loans and advances to MFIs and cooperatives rose by 1.86% to Rs. 241.64 crore, while deposits grew by 2.42% to Rs. 98.20 crore.
However, the non-performing loan (NPL) ratio increased to 9.01%. Deprosc's capital adequacy ratio currently stands at 13.01%, and the annualized earnings per share (EPS) dropped to Rs. 15.94. The net worth per share saw a slight improvement to Rs. 217.62, with a quarter-end PE ratio of 60.67 times and a market price of Rs. 967.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Deprosc Laghubitta | ||
|---|---|---|---|
| Q1 2081/82 | Q1 2080/81 | Difference | |
| Paid Up Capital | 1,706,196.98 | 1,706,196.98* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 410,928.40 | 409,415.71* | 0.37% |
| Reserve & Surplus | 1,595,974.21 | 1,583,472.51* | 0.79% |
| Borrowings | 11,781,004.41 | 11,467,947.27* | 2.73% |
| Loans & Advances to MFIs & Cooperatives | 24,164,174.93 | 23,722,565.51* | 1.86% |
| Deposits | 9,819,866.18 | 9,587,458.22* | 2.42% |
| Net Interest Income | 416,132.69 | 334,242.84 | 24.50% |
| Personnel Expenses | 178,449.19 | 173,403.47 | 2.91% |
| Impairment Charges/Reversal for loans and Advances | 132,473.21 | 48,969.84 | 170.52% |
| Operating Profit | 97,105.82 | 126,093.30 | -22.99% |
| Net Profit | 67,984.47 | 88,265.31 | -22.98% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 410,928.40 | 673,629.43 | -39.00% |
| Capital Adequacy (%) | 13.01 | 14.12 | -7.86% |
| NPL (%) | 9.01 | 5.14 | 75.29% |
| Cost of Fund (%) | 8.34 | 9.90 | -15.76% |
| Annualized EPS (In Rs.) | 15.94 | 20.69 | -22.98% |
| Net Worth per Share (In Rs.) | 217.62 | 216.80 | 0.38% |
| Qtr end PE Ratio (times) | 60.67 | - | - |
| Qtr End Market Price | 967 | - | - |
